What is SEIS Scheme?
Under the framework of the SEIS Scheme, service exporters for eligible service categories, shall be granted as rewards in the nature of freely transferable. Duty Credit Scrips as a percentage of Net Foreign Exchange earned on export of the eligible services in a financial year. The Duty Credit Scrips can be used Payment of Basic Customs Duty and certain other duties as listed in para 3.02 of FTP 2015-2020
There could be various ways a person can export services from India earning foreign exchange of US$ 15000 in a year. The List of eligible service exports includes Business services , R& D services, Rental/Leasing services without operators, Other business services viz., Advertising, Market Research etc., Communication , Transport, Toursim and Travel Related Services, Health Related and Social services, Educational Services, Maritime and Air Transport Services, Road Transport etc.,
Its main objective is to boost and maximize the export of notified/selected Services from India. Under SEIS Scheme by DGFT under the purview of the Ministry of Commerce, Exporters of eligible Services are entitled to a 3% / 5% / 7% incentive on the Net Foreign exchange earned in the form of Duty Credit Scrips. These SEIS scrips can be used to pay Import duty or can be transferred to any other business entity for a premium determined by the market forces on the basis of demand and supply.
Kindly consult us to know more about these services, how this works and whether you can avail this scheme.