INELIGIBLE CATEGORIES UNDER SEIS
Ineligible categories under seis- Ineligible categories can be defined as categories that are not eligible for the benefit under the FTP scheme 2015-20. In simple words, service exporters under this category are not allowed to avail of the benefit of the scheme known as SEIS. There are two types of categories one is eligible and second is ineligible, the provision relating to the same has been defined under the FTP Policy 2015-20.
Ineligible categories has been specified under Para 3.09 of FTP, the same can be enumerated herein below–
- Foreign exchange remittances/sources of earnings:
- equity or debt participation;
- receipts of repayment of loans;
- any other inflow of foreign exchange, unrelated to rendering of services, etc.
- Export turnover relating to services of units operating under EOU / EHTP / STPI / BTP Schemes or supplies of services made to such units.
- Special Provisions: The government has reserved its right if they find it in public interest, they can impose restrictions/change the rate/ceiling on Duty Credit Scrip under this policy, etc.
- In order to claim the benefit under SEIS, the application must be filed within 12 months from the end of the financial year of the claim period.
It is to be noted that the application can be filed after the aforesaid period however in that case a small late cut shall be applied (as per Para 9.02 of the HBP). Hereinbelow is a table to understand the late cut to be imposed by the government.
|PARTICULARS||CREDIT ALLOWED ON OR BEFORE THE DUE DATE||LATE CUT RATE
TO BE IMPOSED
|If Application is being received within 6 months from the last date of filing||100%||2%||98%|
|If Application is being received after 6 months but before 1 year from the last date of filing||100%||5%||95%|
|If Application is being received after a period of 12 months but before 2 years from the last date of filing.||100%||10%||90%|