Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles SMS News Highlights
        Home        
Extracts
Home List
← Previous Next →

Service Exports from India Scheme - Foreign Trade Policy 2015-2020

Customs - Import - Export - SEZ - By: - Madhav Kalani - Dated:- 18-9-2015 - Introduction Service Exports from India Scheme (in known as SEIS) has been announced by the Government in the new Foreign Trade Policy 2015-2020, w.e.f. 1.4.2015. It has replaced Served From India Scheme (SFIS) which was available under the Foreign Trade Policy 2009-2014. Features of the Scheme at a glance The scheme has come into effect from 01.04.2015 i.e. the rewards are admissible on exports of notified services on o .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

of scrip issued under this scheme, which are freely transferable. Scrips can be used for payment of - Customs duties for import of inputs or goods including capital goods, except items listed in Appendix 3A; Payment of excise duties on domestic procurement of inputs or goods, including capital goods and Payment of service tax on procurement of services Payment of customs duty and composition fee in case of Export Obligation defaults. Debits under Duty Credit Scrips are eligible for CENVAT credit .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ed in India. However, only Services rendered in - Mode I: Cross Border Trade - Supply of a service from India to any other country and Mode-2: Consumption abroad - Supply of a service from India to service consumer(s) of any other country in India, are eligible. Provision of service through - Mode 3 - Commercial Presence - i.e. Supply of a service from India through commercial presence in any other country and Mode 4 - Presence of natural persons i.e. Supply of a service from India through the p .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

service charges earned in Indian Rupees shall be treated as receipt in deemed foreign exchange as per RBI guidelines. The Appendix is yet to be notified. Net Foreign Exchange earnings for the scheme is 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. E.g. In case of IEC holder being manufacturer of goods as well as service provider, then th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Discussion Forum
what is new what is new
 


Share:            

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version