Last date for claiming SEIS incentive for FY 2019-20 & 2018-19

Avoid rejection or late cut by filing your MEIS/SEIS/ ROSCTL/ ROSL claim applications before 31.12.2021
September 17, 2021

Category : News

                                                                                                                      SEIS Update  

DGFT office has recently announced that 31.12.2021 as the last date for submission of SEIS applications as per below criteria:

Scheme Financial Year Late Cut in %
SEIS 2018-19 5%
2019-20 NIL

Since the Ministries will keep watch on the outgo, you are advised to ensure filing your claim as soon as possible.


 

Recently on 09.09.2021 thru a press release and tweet, The Government announced that they have allocated the fund of Rs. 10,002 crores to SEIS scheme and arrears of it. As per the PN of Ministry of Commerce and Industry –

Service sector exporters, including those in the travel, tourism and hospitality segments will be able to claim SEIS benefits for FY 2019-2020, for which Rs 2,061 crore has been provisioned. The SEIS for FY 2019-20 with certain revisions in service categories and rates is being notified. This support would have a multiplier effect and spur employment generation.

On 16.06.2021, the Finance Ministry gave concurrence to the proposal of the Commerce Ministry for the continuation of Services Exports from India Scheme (SEIS) for 2019-20 with a financial allocation of Rs.2,061 crore, subject to the condition that the amount will be provided through expenditure budget following the procedure of providing a new minor head.

Since a considerable time has passed, we expect that the O/o DGFT will now any day announce the rates & eligible categories to avail SEIS benefit on foreign exchange earnings in FY 2019-20.

Seeing the current situation, we also anticipate strict scrutiny of the eligibility criterion as per the policy and CPC as well as documentation this time. To make the claim process hassle-free and smooth, we think pre-analysis of the documents will be a wise step.

To know more please click the following:

S.No Date Description
1 16.09.2021 DGFT has announced the last date for submission of applications of SEIS 
2 09.09.2021 Release of Rs. 56,027 Cr Under various Export Promotion Schemes
3 08.07.2021 Acceptance, processing and issuance of claims under MEIS,SEIS,ROSL,ROSCTL in the DGFT
4 30.06.2021 SEPC announcement for 2019-20 SEIS approval
5 16.06.2021 Finance minister concurrence for the continuation of SEIS with the financial allocation of Rs. 2,061 crore
6 22.04.2021 SEPC proposed for alternative to SEIS to support service sector

 

Keep watching our SEIS for FY 2019-20  page for more information and updated news on SEIS.

In case you need any advice/assistance, please feel free to call or write to us at info@andees.com

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Andees Consulting

 

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