Service Exports from India Scheme – Eligible Period extended up to 31st March 2018 with amendments - Incentives for Tourism Industry
7th December 2017
To All Members,
Dear Friends,
Sub: Service Exports from India Scheme – Eligible Period extended up to 31st March 2018 with amendments - Incentives for Tourism Industry
As you are aware, under the Foreign Trade Policy 2015-2020, some benefits were announced in the form of Duty Credit Scrip by the Ministry of Commerce for the Services Sector including tour operators, travel agents, hotels, etc. under Services Export from India Scheme (SEIS).
The rate of reward under SEIS for the tour operators was 5% of net foreign exchange and this was valid till 31st March 2017, Ministry of Commerce, Government of India vide Public Notice no. 45/2015-2020 dated 5th December 2017 has extended its validity till 31st March 2018.
The list of services/rate is subject to review with effect from 01 April 2018. Also please note that rates of rewards have been changed for the tour operators, hotels and restaurants as per following:-
|
S. No.
|
Tourism and Travel Related Services
|
Admissible rate in % (on Net Foreign Exchange Earning) for the period 01/04/2017 to 30/10/2017 |
Admissible rate in % (on Net Foreign Exchange Earning) for the period 01/11/2017 to 31/03/2018 |
|
1.
|
Tour Operators and Travel Agents |
5
|
7
|
| 2. | Hotels | 3 | 5 |
|
3.
|
Restaurants (including catering) |
3
|
5
|
A copy of the Public Notice no. 45/2015-2020 dated 5th December 2017 is attached for your ready reference and records. Members may take benefits accordingly. For the procedure to be followed to take this benefit, please refer our circular dated 13th February 2017, which is also available on our website on the link http://www.iato.in/circulars/view/1 on our website www.iato.in
With best regards,
Sincerely,
Pronab Sarkar
President