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Applicants required to submit documentary evidence certifying approval of payment to claim benefit under SEIS benefits

Updated: May 13, 2019 09:52:33am
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Applicants required to submit documentary evidence certifying approval of payment to claim benefit under SEIS benefits

New Delhi, May 13 (KNN) In order to claim the benefits under the Service Exports from India Scheme (SEIS), the applicants will now have to provide documentary evidence in the form of a CA/ CWA/ CS certificate, which certifies that payments in Indian Rupees for services rendered have been scrutinized and approved under the Reserve Bank of India (RBI’s) guidelines, the Directorate General of Foreign Trade (DGFT) has said.

SEIS provides for rewards to all Service providers of notified services, who are providing services from India, regardless of the constitution or profile of the service provider.

Under the Foreign Trade Policy’s 2015-20, so far the applicants have to provide documentary evidence of payments which are approved by RBI as deemed to be received in foreign exchange and deemed to be earned in foreign exchange for services under Appendix 3E.

DGFT, after amending the rule, said the applicants now have to provide documentary evidence in the form of a CA/ CWA/ CS certificate, which certifies that payments in INR for services rendered as under Appendix 3E have been scrutinized and these payments in INR are approved under RBI guidelines as deemed to be received in foreign exchange and deemed to be earned in foreign exchange – is required to be submitted by applicants which claims benefits for INR payments.

Further, there was no provision under Annexure B in the field of ANF 3B. Now, a provision has been added for the services categories like Medical and Dental Services, Hospital Services and Hotels and Restaurant Services including catering, invoice matching with FIRC/ proof of payment will not be required.

Instead, the DGFT said, a consolidated statement of both invoices and FIRCs/ proofs of payment many be submitted. (KNN Bureau)

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