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Service Exports From India

The Service Exports from India Scheme (SEIS) is designed to encourage the export of services from India by offering duty scrip credits for qualifying exports. This scheme rewards service providers based in India for all eligible service exports made from the country.

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Why Should I Use Auriga Accounting For Service Exports From India?

Auriga Accounting has a team of registration experts who can provide complete guidance to register your Service Exports From India.

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Our team of experts will get in touch with you and collect all necessary documents and details

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We fill out and file your application for Service Exports

Complete your Service Export

Complete Your Service Exports From India

Why Should I Use Auriga Accounting For Service Exports From India ?

Auriga Accounting has a team of registration experts who can provide complete guidance to register your Service Exports From India.

book appointment

Our team of experts will get in touch with you and collect all necessary documents and details

Resolve all your queries

We fill out and file your application for Service Exports

Complete your Service Exports

Complete Your Service Exports From India

Overview
Benefit
Eligibility
Rate Reward
Documents
Apply

Overview - Service Exports From India

Under the Foreign Trade Policy 2015-20, the SEIS Scheme offers a framework that allows service providers who have delivered eligible services, as outlined in Appendix 3D, during a financial year to receive specific benefits. These benefits include duty-free credit scrips, which can be utilized for the payment of essential customs duties and certain other levies. Additionally, these scrips are fully transferable.

These duty credit scrips are fully transferable and can be used for a variety of payments, such as customs duties on imported goods, excise duties on domestically sourced goods (including capital goods), service tax on purchased services, and other associated fees. Through these incentives, the SEIS promotes Indian service providers to broaden their international presence, ultimately boosting the country’s service export performance and contributing to foreign exchange earnings.

Benefits Under the Service Exports from India Scheme

Applicability: The Service Exports from India Scheme applies to all service providers based in India, including those who are not Indian nationals. It supports entities engaged in exporting specified services from India.

Rewards Based on Foreign Exchange Earnings: Service providers are eligible for rewards proportional to their net foreign exchange earnings.

Transferable Duty Credit Scrips: The duty credit scrips issued under this scheme are fully transferable and can be utilized for various purposes, including the import of goods.

Cost Effectiveness of the Service Exports from India Scheme
Eligibility for Credits and Drawbacks: Entities can avail themselves of CENVAT credits or drawbacks on debits, providing additional financial advantages.

Benefits of the Service Exports from India Scheme Usage of Scrips: The awarded scrips can be utilized to settle customs duties on imports, excise duties on domestic products, service taxes on procured services, as well as customs duties and associated fees.

Service Eligible for SEIS

Mode I: Cross-Border Trade – This involves the provision of assistance from India to other countries.

Mode II: Consumption Abroad – This refers to the supply of services from India to consumers located in other countries.

Ineligible Benefits: The following modes are not eligible for benefits under this scheme:

Mode III: Commercial Presence – This involves the delivery of services from India through a commercial presence established in another country.

Mode IV: The presence of natural persons in another country is also not eligible for rewards under this scheme. For details on different categories of ineligible services, please refer to Public Notice 45 dated December 5, 2017.

Eligibility Criteria for SEIS

  • To qualify for this Scheme, service providers must achieve a minimum net free foreign exchange earnings of $15,000 in the preceding financial year.
  • For individual service providers and sole proprietorships, the required earnings threshold is $10,000 for the same period.
  • Service providers must have an active IEC Code to claim incentives while providing their services.
  • If the IEC holder operates as both a manufacturer of goods and a service provider, only the foreign exchange earnings and total expenses/payments/remittances pertaining to the service provision will be considered.

Rate of Reward

As mentioned earlier, the SEIS Scheme offers significant incentives for exporters of specific services, allowing them to earn incentives of 3%, 5%, or 7% based on their net foreign exchange earnings. These incentives are provided in the form of Duty Credit Scrips, which are valuable financial instruments. Exporters can use these scrips to offset import duties on goods, or they have the option to sell them to any importer, thereby transforming these scrips into a cash-like benefit. This feature makes the SEIS scheme highly attractive, as it provides exporters with flexibility in how they manage their financial resources.

To determine the net foreign exchange earnings eligible for benefits under the SEIS scheme, the following formula is applied: Net Foreign Exchange = Gross Earnings of Foreign Exchange – Total Expenses, Payments, or Remittances of Foreign Exchange. This calculation ensures that the incentives are aligned with the actual financial performance of the exporters, taking into account all relevant income and expenses associated with foreign exchange. Overall, the SEIS Scheme represents a robust mechanism to support service exporters and encourage their contributions to the economy.

Documents Needed for Service Exports from India Scheme

  • Bank Realization Certificate (BRC): Certificate confirming the receipt of payment by the bank for exports.

  • Foreign Inward Remittance Certificate (FIRC): Document issued by banks to certify the receipt of foreign funds into the account.

  • CA-Verified Financial Statements: Financial statements examined and certified by a Chartered Accountant.

  • Timelines and Deadlines: Scheduled time frames for project phases, submissions, and deliverables.

  • Importer Exporter Code (IEC Code): Unique identification number required for importing or exporting goods.

  • Application Form ANF-3B (Aayat Niryat Form): Official form used for applying for benefits under the Foreign Trade Policy.

  • CA Certificate: Certificate issued by a Chartered Accountant attesting to specific financial or business information.

  • Statement Connecting Invoices and FIRCs: Document illustrating the relationship between issued invoices and corresponding Foreign Inward Remittance Certificates.

  • Description of Services: Detailed narrative outlining the various services provided.

  • Self-Certified Copies of Invoice and FIRCs: Copies of invoices and FIRC documents that have been certified by the applicant.

  • DGFT Digital Signature Certificate (DSC): Digital certificate issued by the Directorate General of Foreign Trade for secure online transactions.

  • RCMC Copy: Copy of the Registration Cum Membership Certificate proving registration with relevant export promotion councils.

  • Required Declarations: Necessary legal statements or affirmations required for compliance purposes.

How to Apply for the Service Exports from India Scheme (SEIS)

Obtain an Import-Export Code (IEC): The first step for the applicant is to secure an Import-Export Code (IEC) from the Director General of Foreign Trade (DGFT). This code serves as a unique identifier for all import and export transactions.

Calculate Net Foreign Exchange Earnings: It is essential to assess foreign exchange earnings by deducting any outflows related to expenses directly associated with the export of services. This calculation will determine eligibility for the scheme.

Gather Required Documentation: The applicant must compile the necessary documents to comply with the SEIS scheme, including Foreign Inward Remittance Certificates and an endorsement from a chartered accountant.

Apply via the DGFT Online Portal: The applicant should access the DGFT online portal to initiate the application for the Service Exports from India Scheme (SEIS). This process involves completing the application form, uploading the required documents, verifying the information, and submitting the application.

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