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January 22, 2021

Request for Notification of SEIS benefit for Services Exports for FY 2019-20

by CA Shivam Jaiswal in Compliance Law

Request for Notification of SEIS benefit for Services Exports for FY 2019-20

Copy of Letter of Request to Shri Piyush Goyal from Suresh Prabhu (Member of Parliament)

Dear Shri Piyush Goyal Ji,

I have received request from the Service Exporters for issuance of long pending Service Exports from India Scheme (SEIS) Notification by DGFT for the year 2019-20.

The Government of India Foreign Trade Policy (FTP 2015-20) introduced Service Exports from India Scheme (SEIS) aimed to promote export of services from India by providing duty scrip credit for eligible exports. Under the scheme, service providers, located in India, would be rewarded under the SEIS scheme, for all eligible export of services from India. The Incentive under SEIS was @ 5% up to 31-­10-2017 and thereafter 7% of net foreign exchange earnings.

SFIS/SEIS schemes are under (General Agreement on Tariffs and Trade) GATT’s Agreement with WTO (World Trade Organization) compatibility.

The Service Exporters have informed that DGFT had promised to issue notification for the year 2019-20 on 31-03-2020, however no such notification has been issued till date. As per FTP-2015-20 only two Months are left for claiming SEIS benefit for the year 2019-20.

Service Exporters pass on export incentives to importers in order to be competitive in the international Market. The Indian market is still Import dominated and the Government of India has been promoting Exports to reduce the trade deficit. It is unlikely to remove any export incentive schemes in coming years. To conclude, the SEIS scheme or any other alternate incentive schemes will remain as a core subject in the Foreign Trade Policy till India becomes Export surplus.

In view of the above it is requested that the concerns of the Service Exporters may be looked into and suitable action may be taken to address their grievances.

Request-for-Notification-of-SEIS-benefit-for-Services-Exports-for-FY-2019-20

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