Objective of Service Exports from India Scheme (SEIS) is to encourage export of notified Services from India Service Providers of notified services, located in India, and shall be rewarded under SEIS, subject to conditions as may be notified..
- Only Services rendered in the manner as per Para 9.51(i) and Para 9.51(ii) of this policy shall be eligible.
- The notified services and rates of rewards are listed in Appendix 3D.
- Such service provider should have minimum net free foreign exchange earnings of US$15,000 in preceding financial year to be eligible for Duty Credit Scrip.
- For Individual Service Providers and sole proprietorship, such minimum net free foreign exchange earnings criteria would be US$10,000 in preceding financial year.
- Payment in Indian Rupees for service charges earned on specified services, shall be treated as receipt in deemed foreign exchange as per guidelines of Reserve Bank of India. The list of such services is indicated in Appendix 3E.
- Net Foreign exchange earnings for the scheme are defined as under
- Net Foreign Exchange = Gross Earnings of Foreign Exchange minus Total expenses / payment / remittances of Foreign Exchange by the IEC holder, relating to service sector in the Financial year.
- If the IEC holder is a manufacturer of goods as well as service provider, then the foreign exchange earnings and Total expenses / payment / remittances shall be taken into account for service sector only.
- In order to claim reward under the scheme, Service provider shall have to have an active IEC at the time of rendering such services for which rewards are claimed.