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FAQ: What is SFIS license?

Served From India Scheme SFIS is one of the reward schemes under Foreign Trade Policy. Under SFIS scheme, all Indian Service Providers who earns foreign exchange of Indian Rupees ten lakhs in current or preceding financial year is eligible.

Which scheme has been launched in place of SFIS?

The Service Exports from India Scheme has been introduced in 2015 and is valid for 5 years i.e. from 2015 to 2020. This Scheme has been introduced as a part of the new Foreign Trade Policy 2015-2020 and replaces the Service from India Scheme (SFIS) which was applicable earlier.

What are the benefits of avail Seis?

Procedure for applying under SEIS Scheme?

  1. SEIS Application should be made to jurisdictional DGFT offices using a DGFT Digital Signature.
  2. In this Scheme, the Exporter can apply one application for one financial year.
  3. One needs to claim the incentives before 12 months from the end of the relevant financial year.

What is Meis and SEIS?

Merchandise Exports from India Scheme (MEIS) under Foreign Trade Policy of India (FTP 2015-20) is one of the two schemes introduced in Foreign Trade Policy of India 2015-20, as a part of Exports from India Scheme. (The other scheme is SEIS, Service Exports from India Scheme).

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How do I apply for SEIS?

Signed copy of the following documents needs to be uploaded:

  1. IEC.
  2. Application Form for Service Exports From India Scheme (SEIS) in Form ANF 3B.
  3. Write Up of Services as per Form ANF 3B,
  4. Invoices and FIRC’S.
  5. RCMC certificate.
  6. Certificate of Chartered accountant in Annexure to ANF3B.

What is SFIS scheme?

Served From India Scheme SFIS is one of the reward schemes under Foreign Trade Policy. Under SFIS scheme, all Indian Service Providers who earns foreign exchange of Indian Rupees ten lakhs in current or preceding financial year is eligible.

Who is eligible for SEIS?

In order to qualify for the SEIS, a company must be undertaking, or planning to undertake, a new business which has fewer than 25 full-time employees and gross assets of not more than £200,000 at the time of the SEIS investment.

What is RoSCTL in export?

The Rebate of State and Central Taxes and Levies (RoSCTL) Scheme is an export Incentive scheme introduced from 07th March 2019 to 31.03. 2020 for those who export Apparels and made-ups from India. The RoSCTL Scheme gives duty credit transferable and sellable scrips on the FOB value of export.

What is SEIS income?

Service Exports from India Scheme (SEIS) aims 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.

Why did Meis stop?

The Centre has decided to discontinue the MEIS scheme from January 1, 2021, as it is not compliant with World Trade Organization norms. Exporters will then be reimbursed the duty paid on inputs through the new Remission of Duties or Taxes on Export Products Scheme, the rates for which are under formulation.

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What is FOB value?

FOB Value = Ex-Factory Price + Other Costs (b) Other Costs in the calculation of the FOB value shall refer to the costs incurred in placing the goods in the ship for export, including but not limited to, domestic transport costs, storage and warehousing, port handling, brokerage fees, service charges, et cetera.

How does SEIS scheme work?

The Seed Enterprise Investment Scheme (SEIS) was introduced in April 2012 by HMRC to help small, early-stage companies raise funds through individual investors by providing a series of tax reliefs on investments made into qualifying companies. SEIS companies can be invested in directly or through an SEIS fund.

How do I apply online for SEIS?

SEIS Online Application Process – 2019

  1. IEC Copy.
  2. Self-Certified copy of Application Form ANF 3B.
  3. CA Certificate.
  4. Table Number 4.
  5. Write Up of Services.
  6. Self-Certified Copy of Invoice and FIRC’S.
  7. DGFT DSC.
  8. RCMC Copy.
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