Services Exports from India Scheme (SEIS)
As per new Foreign Trade Policy, an Indian Service Provider is entitled for Duty Credit Scrip by Government of India - Ministry of Commerce and Industry
Under this scheme, all Indian Service Providers having free foreign exchange earning of at least US $15,000 in preceding can claim for Duty Credit Scrip. For Individual Service Providers and sole proprietorship, such minimum net free foreign exchange earnings criteria would be US $10,000 in preceding financial year.
This Duty Credit Scrip is equivalent to 3% - 5% of "NET" free foreign exchange earned during previous financial year. Free foreign exchange earned through International Credit Cards and other instruments as permitted by RBI for rendering of service are also taken into account for computation of Duty Credit Scrip.
The reward issued as duty credit scrip would not be with actual user condition and will not be restricted to usage for specified types of goods i.e it will be freely transferable and usable for all types of goods and service tax debits on procurement of services / goods. Debits would be eligible for CENVAT credit or drawback.
List of ser eligible for SEIS incentive from 1st April 2015