The SEIS Scheme or Service Export from India Scheme is an incentive given by the Ministry of Commerce through the Directorate General of Foreign Trade (DGFT) to Service Exporters based in India. This reward scheme is to promote the export of services from India.
SEIS Scheme was introduced on 1st April 2015 for 5 Years under the Foreign Trade Policy of India 2015-2020. Earlier, this Scheme was named as Served from India Scheme (SFIS Scheme) for Financial Year 2009-2014. There are following four modes to export services to foreign clients.
Its main objective is to boost and maximize the export of notified/selected Services from India. Under SEIS Scheme, Exporters of selected 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 encashed by selling it to any Importer. Therefore, it is as good as cash Incentive Scheme.
1 Services rendered in the manner of Mode 1 & Mode 2 are only eligible for the SEIS Scheme. Mode 3 and Mode 4 are not eligible to claim SEIS Incentive. 2 Export of services to foreign clients can be undertaking in the following four modes:
For Example –
1 An Indian Audit firm is sending audited accounts to a Foreign Company operating in London. [This may categorize as export of “Accounting & Auditing Services”]
2 An Indian Company doing market research activities for a Foreign Company based in the UAE [This may categorize as export of “Market research Services”]
For example –
1 A Foreign Tourist from America living in a 5-star hotel in India and paying for accommodation & food in Foreign Currency through International Credit Cards. [This may categorize as Export of “Hotel Services”]
2 An Indian tour operator company is planning and selling packages to foreign tourists for their travel in India. These types of companies are also known as Inbound Tour Operators. [This may categorize as export of “Travel agencies and Tour operator Services”]
For Example –
An Indian Company having an office in Singapore and providing Engineering Services to clients based in Singapore. It means the physical presence of an Indian company in foreign countries.
For example –
An Indian Doctor performs surgery by visiting the patient based in the USA. / An Indian Consultant provides Services by visiting his Client in the UK.
INTERER CONGUELIT NON
They are very fast in getting work done. They resolved each and every query of ours. We were not aware of the export incentive they approached us and helped us to claim the incentives.
Our IGST refunds were pending due to some errors Dwarkadhish approached us and helped getting refund as soon as possible. Even We have not met in personal they are doing all our GST work.
Mr. Sai Kiran approached us and told about the incentive benefits we were not aware of and they tried to claim that as soon as possible.
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