SEIS Export Incentives
SEIS incentives is an process involving submission of several business details along with certain supporting documents. Prior to the applying for SEIS export incentives, a critical analysis of various business and transactional aspects like – nature of business, types of services, rigorous follow up etc. are required to be undertaken.We, at V J M Associates LLP are equipped to provide qualitative value added services through the entire process of getting SEIS Export Incentive. Our dedicated team is available to offer end to end services in accordance with your requirements and clarify your questions.
Know More about SEIS Incentives
As per para 9.10 of the Handbook of Procedures 2015-2020, on receipt of SEIS application, the department needs to disposed it off in 3 working days. Only in case of any deficiencies / discrepancies in the file, the longer processing time is allowed.
Service provider of only those services which are notified in Appendix 3D and Appendix 3E, located in India, shall be rewarded under SEIS.
Appendix 3D: List of services eligible under Services Export from India Scheme along with rate of Incentives.
Appendix 3E: List of services where payment has been received in Indian rupees which can be treated as receipts in deemed foreign exhange as per guideline of RBI
In order to get eligible for SEIS, the services need to be rendered in the manner provided at Para 9.51(i) and Para 9.51(ii) of the Foreign Trade Policy 2015-2020 and the same is provided below –
Para 9.51(i) – Supply of a service from India to any other country (Mode1 – Cross border trade)
Para 9.51(ii) – Supply of a service from India to service consumer of any other country in India (Mode2 – Consumption abroad).
The service provider needs to have a minimum ‘net foreign exchange earnings’ (explained below) of US$ 15,000 in the year of rendering service in order to get eligible for Duty Credit Scrip.
Non Holder of IEC
Foreign exchange remittance other than those earned for the rendering of the notified service would be ineligible under SEIS.
As per para 9.10 of the Handbook of Procedures 2015-2020, on receipt of SEIS application, the department needs to disposed it off in 3 working days. Only in case of any deficiencies / discrepancies in the file, the longer processing time is allowed.
In SEIS, the benefit is available to the eligible service provider of the notified service in the form of ‘Duty Credit Scrips’. The issuance of ‘Duty Credit Scrips’ would be based on the notified rates listed in Appendix 3D on the net foreign exchange earnings. The said notified rates vary from 5% to 7% on the notified services.
An online application needs to be filed on the DGFT server and all the relevant fields of information need to be entered in the SEIS ECOM Module.
Application form ANF 3B and Annexure to ANF 3B are available online.
It must be noted that, vide public notice no. 15/2015-2020 dated 28th June, 2018, new ANF 3B has been made effective.
Why Choose Us
Client Centric Approach
Client is the key driver of our service offerings. Our approach to service offerings is based on a client centric and customized approach. Our specialized teams are a mix of technical and industry experience in order to serve clientele for their specific needs.
Quick Turnaround
We always endeavour for a quick turnaround time to serve our clientele. We are supported by an experienced and client focussed support teams to offer timely services to our clientele. In case of any business exigencies and time sensitive service requirements, you can always count on us.
Team Work
We have built high performing teams supported by strong work ethic. Our team is a mix of experts, professionals and support staff from technical and varied academic, cultural, social and ethnic backgrounds. We believe that this diversification plays a vital role in motivating the team into High Performing Teams.
Open Communication
We believe that open communication is the core principle in order to demonstrate trust, build long lasting and valuable relationships with clientele. We are committed to ensuring transparency in communication, service offerings and delivery.
Driving quality in delivery
Our service offerings are driven by quality and reviews at every level. We strive to provide a qualitative and value-added delivery to our clientele. At all times, we endeavour to provide exceptional client service by meeting client expectations and driving client satisfaction.
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Testimonials
What our clients say about us
By taking care of our Internal control policies and procedures, VJM Team have made sure that experience is hassle free.
Very professional approach from VJM Team, they got associated with us late in the financial year but were able to conduct an in depth audit and highlight the areas to be addressed within a short span of time. What gives us confidence is that they are available for consultation on any financial matter and are quick to find and implement the resolution
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VJM team is a thoroughly professional chartered accountants equipped with all resources and with deep understanding of GST and other contemporary arenas of corporate consultancy. Have interacted with them for various tax and corporate law related matters and found the interaction quite useful.
We are Repaibays Experts LLP. We are a new company and have just started our business in the field of AC charger installation. We have retained M/S VJM & Associates LLP; Chartered Accountants as CA for our company. They have a fairly large sized office and team and the whole environment seems professional and well organised: something which is very critical in this kind of business We wish VJM very well and am sure they are already a name to reckon with in the field of providing professional CA services !
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I hired VJM Associates and now I can completely focus on my business because I know there’s someone who is managing my accounts properly. Their team (including Khushboo and Jayant) are super supportive and friendly. I highly recommend VJM Associates. Give them a try! You won’t be disappointed
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We give full credit to VJM for streamlining our company’s GST compliance. Their dedicated team of learned professionals have a focussed approach & exceptional clarity when it comes to any questions pertaining to GST. I can say, without their support, it would not have been possible for us to sail past the initial turbulent period when GST was launched. Our best wishes always with them !
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