Served From India Scheme (SFIS) for exporter of service

To accelerate the growth of export of service DGFT has introduced the incentive scheme for exporter of services from India. The scheme is called as SERVED FROM INDIA SCHEME (SFIS). An individual earning more than Rs. 5 lakhs free foreign exchange and other than individual earning more than Rs. 10 lakhs free foreign exchange during the preceding financial year is eligible for this benefit.

The service provider is eligible for Duty entitlement scrip of 10% of free foreign exchange earned during the period. Duty Credit scrip may be used for import of any capital goods including spares, office equipment and professional equipment, office furniture and consumables; that are otherwise freely importable and / or restricted under ITC (HS). Imports shall relate to any service sector business of applicant.

Services and Service Providers as listed in Para 3 .6.1 of Handbook of Procedures (Vol. I) shall not be entitled for benefits under the SFIS scheme. The application can be filed with jurisdictional RA in form ANF 3B along with document prescribed therein on monthly/quarterly/ half-yearly/ annual basis.

The benefit is available under Foreign Trade Policy Para No. 3.12 and Handbook of Procedures (Vol. I) Para No. 3.6. 

You may also Like:

Ø  PAN application form in excel with Database facility.

Ø  Invoice preperation utility in Excel

Ø  ITR 1 (Sahaj) in excel for AY 2015-16 with auto fill function for printing

Ø  Excise Invoice Preparation utility in excel

Status Holders Incentive Scrip (SHIS) benefit for exporters

Under Foreign Trade Policy para no.3.16, with an objective to promote investment in upgradation of technology of some specified sectors the direct exports achieved by the business entity in the FY 2010-11, 11-12 and 12-13 qualify for the 1% Status Holders Incentive Scrip on the total direct exports for the three financial years.  This benefit is not available if there are any benefits availed under Zero % EPCG scheme in that year. Exporters can obtain Status Holders Incentive Scrips at 1% of the FOB value  of the exports. This scrip can be utilized for payment of excise duty for procurement of capital goods. This scrip can also be used for payment of import duty for import of capital goods. The application is to be made to DGFT to get this benefit. After verification of the application the authority  will issue the scrip. The scrip is valid for 18 months from the date of issue. The buyer can take the cenvat credit of duties which are paid through Scrip.

For Status Holders Incentive Scrip, the following exports categories /sectors shall be ineligible:

(i) EOUs / EHTPs / BTPs who are availing direct tax benefits / exemption;

(ii) Export of imported goods covered under Para 2 .35 of FTP;

(iii) Exports through transshipment, meaning thereby that exports originating in third country but transshipped through India;

(iv) Deemed Exports;

(v) Exports made by SEZ units or SEZ products exported through DTA units; and

(vi) Items, which are restricted or prohibited for export under Schedule-2 of Export Policy in ITC (HS).

You may also Like:

Ø  PAN application form in excel with Database facility.

Ø  Invoice preperation utility in Excel

Ø  ITR 1 (Sahaj) in excel for AY 2015-16 with auto fill function for printing

Ø  Excise Invoice Preparation utility in excel