SEIS
Liaison Services . Purchase . Sale
SEIS Duty Credit Scrip is awarded under the Service Exports from India Scheme of the Foreign Trade Policy 2015-20 (FTP) to service exporters who earn net free foreign exchange.
At present this award scheme has been notified and made available only for exports up to FY 2019-20. Though the FTP 2015-20 has been extended up to 30th September 2022, the application deadline of 28th Feb 2022 for eligible periods is not.
Our offerings:
We provide full range of liaison services to exporters for the claim of SEIS Scrips including the following:
- Preparation and filing of claims.
- Follow-up with DGFT
- Reply to deficiencies or objections.
- Registration with the customs
- Sale of Scrips
- Revival of rejected or dormant applications or appeals at HQ level.
Our energetic and driven team includes CAs, CS, MBAs and Law graduates who are well versed with departmental processes, rules of interpretation etc. We also work on the basis of zero revenue outgo for the clients where the fee is payable only after the scrip is monetized.
Please {call now}, {email} or use the enquiry form
to know more about our services or to buy or sell SEIS scrips.
About SEIS Scheme:
Simply explained, "Duty Credit Scrips" are an alternate form of cash used only for purposes specified by the government like payment of customs duties etc.
SEIS Scrip is awarded with an objective to encourage export of services.
If you are a service provider located in India and if you provide services to foreign entities or clients you may be eligible to avail such reward scrips from the government based on certain criteria like- the type of service provided, how and where the service was rendered etc.
The amount of award ranges up to 7% of net foreign exchange earned and depends upon various factors like the nature of service, period of exports etc.
In a few cases such scrips are awarded even where no direct foreign exchange has been earned by the service provider but the payment received is treated as deemed foreign exchange under the provisions of FTP for SEIS.
At present scrips are being awarded only to the exporters whose applications have already been filed before the deadline.
Features of SEIS Scrips
Transferability:
The SEIS Scrip is freely transferable and can be sold under the GST regime as “Nil rated supplies” (from13-Oct-2017 onwards). Therefore, if service exporters do not wish to use the Duty Credit Scrip themselves, they can sell it in the market at prevailing discount rates.
Utilisation:
SEIS is similar to other duty credit scrips like MEIS, FPS, FMS or VKGUY in operation.
It can be used for payment of Basic Custom Duty, Safeguard Duty, Transitional Product Specific Safeguard Duty, and Antidumping Duty, for Items covered under GST.
For items not covered under the GST (specified in Fourth Schedule to Central Excise Act 1944 covering specified petroleum products, tobacco etc.), in addition to the Basic Custom Duty, Safeguard Duty, Transitional Product Specific Safeguard Duty and Antidumping Duty, scrips can also be used for payment of duties like central excise, CVD/ SAD. The scrips cannot be used for payment of any type of GST.
Validity:
12/24 months from the date of issue depending upon the FTP provisions prevailing on the date of issue.
Treatment under GST:
Currently the sale is treated as Nil Rated Supply under the GST provisions.
Prerequisites for Claim
1. Incentive is applicable only after the date of issue of IEC Certificate. One needs to have an Importer Ex[porter Code number at the time of rendering service.
2. Application for Incentive can be made after receipt of Registration Cum Membership Certificate (RCMC) from the Services Export Promotion Council (SEPC)
This incentive is not available to EOUs, units in EHTP, STPI & Bio Tech Parks etc. However SEZs are not excluded.
Services Eligible for SEIS Benefit
A vast range of services have been made eligible under the Foreign Trade Policy 2015-20 for availing this benefit. They are enumerated in Appendix 3D to the FTP for the export period FY 2015-16 to FY 2018-2019 and under Appendix 3X for the export period FY 2019-20.
Please {call now}, {email} or use the enquiry form
to know more about our services or to buy or sell SEIS scrips.
Disclaimer:
The objective of this page is mainly to make our services known. It provides only cursory details on the scheme and other legal provisions. For complete details about the scheme visitor is requested to refer to the FTP and the Handbook of Import and Export Procedures and all other relevant laws, rules and regulations before drawing any conclusion.