What is SEIS?

In New Foreign Trade Policy 2015-2020, with effect from 01.04.2015 Service Exports from India Scheme to promote exports from India. This Scheme not only replaces the old scheme announced in trade circular policy 2009-2014 under SFIS (Served from India Scheme ), but also rationalize the various kind of restriction imposed on end use of scrips . Unlike earlier scheme, this scheme also includes exports from SEZ.

Objective of SEIS?

Under this scheme, exporters are rewarded with tradeable custom duty scrips credit for all notified service exports rendered on or after 01.04.2015

Validity of SEIS Scheme: -

As per trade policy circular dated 2015, claim period for receiving these scripts would be valid for 5 years, i.e. exports done during 2015-2020 would be eligible for claiming this incentive form government of India.

Eligibility Criteria for claiming SEIS:-

All service exports under approved/recognised list of activity by government of India are entitle to claim the SEIS benefit.

An Exporter should have an active Import Export code issued by DGFT for the period of claims

For an exporter in India to be eligible for SEIS scheme scrips apart from companies having IEC code, the following foreign exchange criteria should be met.

Net foreign exchange earnings for the SEIS scheme is calculated as:

Net Foreign Exchange = Gross Earnings of Foreign Exchange – Total Expenses or payment or remittances of Foreign Exchange.

Claim Amount/Incentive Amount:-

Total Claims percentage can vary somewhere between 3-5% of export value, depending upon the list of activities approved by government of India.