Service Exports from India Scheme (SEIS)
13th February 2017
Sub: Service Exports from India Scheme (SEIS)
We had vide our circular dated 6th April 2015 and 13th April 2015 informed our members about the Service Exports from India Scheme (SEIS) where members can take benefit under the scheme as announced in Foreign Trade Policy 2015-20.
However to take the benefit under SEIS, following is the procedure to be followed
Step 1:- To take Importer Exporter Code (IEC)
Once you click on the above link, following information will appear for IEC.
|(i)||Online e-IEC Application Format.|
|(ii)||List of documents required to be uploaded along with the application form.|
|(iii)||Format of Bank Certificate* (*Bank Certificate is required only if cancelled cheque is not available).|
|(iv)||List of Regional Authorities (RAs) of DGFT (with their Jurisdiction) /td>|
|(vi)||Check-List of details checked by Regional Authorities before issuance of IEC.|
Step 2:- To apply for membership of SEPC
Once you get the IEC, you need to become member of Services Export Promotion Council (SEPC) and information is available on following link
How to become a Member
To become a member, the following documents, which are required under Foreign Trade Policy, may be submitted at the SEPC office.
• Application form- can be downloaded from this site. Click to Download (New)
• A self-certified copy of the IEC issued by the licensing authority (DGFT) concerned.
• A self-certified copy of the Permanent Account Number (PAN) issued by the competent authority.
Fee in favor of “Services Export Promotion Council” by way of Demand Draft payable at New Delhi or Cheque payable at par at all Branches for membership fee as applicable. Alternatively, the appropriate fee can be deposited in local branch of IDBI Bank favouring Services Export Promotion Council, Current account number 167104000118514, Branch New Friends Colony, New Delhi,RTGS/NEFT Code: IBKL0000167 and send a clear copy of the deposit slip duly attested by Gazetted Officer or original deposit slip duly affixed by bank stamp be enclosed along with the application a clear copy of the deposit slip duly attested by Gazetted Officer or original deposit slip duly affixed by bank stamp be enclosed along with the application.
Categories of Membership
|1||Life Members||Rs. 5 Lakhs (one time contribution) + Rs. 70000 (Service tax 14.5%)||Total Rs. 5,72,500/-|
|2||Individual Ordinary Members(Proprietorship/Partnership)||Rs. 7,500 as annual membership fee + Rs. 1088 (Service tax 14.5%) + Rs. 5,000 as one time admission fee + Rs. 725 (Service tax 14.5%)||Total Rs. 14,313/-|
|3||Institutional/Corporate Members(All Pvt. Ltd. or Public Limited Companies, Associations, Institutions etc.)||Rs. 20,000 as annual membership fee + Rs. 2900 (Service tax 14.5%) + Rs. 15,000 as one time admission fee + Rs. 2175 (Service tax 14.5%)||Total Rs. 40,075/-|
Renewal of Membership (for Existing Members only)
|1||Life Members||Not Applicable||Not Applicable|
|2||Individual Ordinary Members(Proprietorship/Partnership)||Rs. 7,500 as annual membership fee+ Rs. 1,088 (Service tax 14.5%)||Total Rs. 8,588|
|3||Institutional/Corporate Members(All Pvt. Ltd. or Public Limited Companies, Associations, Institutions etc.)||Rs. 20,000 as annual membership fee + Rs. 2,900 (Service tax 14.5%)||Total Rs. 22,900|
Send request for renewal on your letterhead along with the following Documents:
1. Original RCMC issued first time at the time of registration for endorsement.*
2. Payment of annual subscription fee plus service tax 14.5% (Cheque/Pay order)
3. Format ‘A’ & ‘B’ form.Click to Download (New)
Membership renewal bill for FY 2016-17 (Institutional/Corporate member – Rs. 22900)Click to Download (New)
Membership renewal bill for FY 2016-17 (Individual ordinary Member – Rs. 8588)Click to Download (New)
a) Continuity of membership of SEPC is must for getting Renewal of RCMC for any succeeding year. In their own interest members are requested to get their RCMC of SEPC renewed every year in month of April failing which the RCMC is liabled to be cancelled.
b) The validity of RCMC is for 5 Years as per the FTP 2015-20 from the date of issuance of RCMC. In case of expiry, a new RCMC cum renewal certificate will be issued for the period of next 5 years after surrendering the expired original RCMC and payment of one time admission fees plus taxes in addition to the annual subscription fees plus taxes.
Address for correspondence:
SERVICES EXPORT PROMOTION COUNCIL
HEAD OFFICE: 3rd Floor, 6A/6, NCHF Building,
Siri Fort Institutional Area,
August Kranti Marg
New Delhi-110049, +91 11-41734632
Phone: +91 11-41046327-28-29
Criteria for applying for SEPC membership
As per the Foreign Trade Policy 2015-20, following is the criteria for SEPC Membership.
1. Service provider should have minimum net free foreign exchange earnings of US$15,000 in preceding financial year to be eligible for Duty Credit Scrip
2. For Individual Service Providers and sole proprietorship, such minimum net free foreign exchange earnings criteria would be US$10,000 in preceding financial year.
3. Free Foreign Exchange earned through international credit cards and other instruments, as permitted by RBI shall also be taken into account for computation of value of exports under SEIS.
4. Net Foreign Exchange = Gross Earnings of Foreign Exchange minus Total expenses / payment / remittances of Foreign Exchange/Service Tax by the IEC holder, relating to service sector in the Financial year.
5. Duty credit scrip is freely transferable and usable for payment of custom duty, excise duty ,service tax and can be traded with third party.
6. The present rates of reward is 5% i.e. you will get 5% of Net Foreign Exchange earnings.
7. Last Date of Filing : The last day of filing of application for duty scrips is within 12 months from the date of relevant financial year of claim period.
Step 3 To obtain the Scrips
Once your membership with SEPC is approved, you have to apply to DGFT along with your foreign exchange remittance certificate issued by the Foreign Exchange Receiving Bank. Thereafter, the Scrips will be issued.
Step 4 - Registration with VAT Department
Kindly note if the scrip is sold for more than Rs. 20 lakh, then the company needs to be registered with VAT Department of your respective state government as VAT will be payable.
We have received a few telephone calls from members that they are having problems with the above departments. In case if anyone of you have any problem, please advise as we intend to take up this matter with matter with Ministry of Commerce directly and also through Ministry of Tourism.
Please forward details by 15th February 2017.
With best regards,