Business Standard

Entitlement under SEIS for services exports in FY20 capped at Rs 5 crore

The facility to claim benefits under SEIS on payments in Indian currency will not be available for services rendered in FY20

Services exports
Premium

The benefit will be subject to a 5 per cent additional export obligation on balance exports to be fulfilled

Shreya Nandi New Delhi
The Directorate General of Foreign Trade (DGFT) has imposed a cap on the total entitlement under the Services Exports from India Scheme (SEIS) at Rs 5 crore per exporter for shipments done in 2019-20 (FY20).

The move is expected to benefit small businesses in the services sector.

“A limit of total entitlement under SEIS has been imposed for services exports rendered in the period between April 1, 2019, and March 31, 2020, and capped at Rs 5 crore import-export code (IEC),” stated a DGFT notification.

SEIS was rolled out six years ago, as part of the foreign trade policy 2015-2020,

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 23 2021 | 9:18 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com