Govt identifies 100 services for duty reimbursement
The government has identified 100 services which will be given duty reimbursement on export under the 'Served from India Scheme' scheme for exporters.
By PTI |
NEW DELHI: The government has identified 100 services which will be given duty reimbursement on export under the 'Served from India Scheme' scheme for exporters.
Under the scheme, providers of more than 100 services like professional, computer, hotels, restaurants, education, R&D, communication, construction, distribution, environmental, tourism, transport, recreation sports would be entitled for Duty Credit Scrip, an official release said on Wednesday.
Service providers with a total foreign exchange earning of a minimum Rs 10 lakh in the preceding or current fiscal would qualify for Duty Credit Scrip. For individual service providers, the limit has been fixed at Rs five lakh.
However, services not eligible for benefits under the scheme are sources of foreign exchange earnings, foreign exchange remittances, payments for services received from EEFC account, export turnover relating to services of units under SEZ/EOU and export of goods among others.
Service providers (except hotels, restaurants) are entitled to Duty Credit Scrip of 10 per cent of foreign exchange earned during preceding financial year.
Duty Credit Scrip may be used for import of any capital goods provided it is part of the main line of business. A Duty Credit Scrip of nearly Rs 1,000 crore is granted annually, based on previous years foreign exchange earned by service providers.
Under the scheme, providers of more than 100 services like professional, computer, hotels, restaurants, education, R&D, communication, construction, distribution, environmental, tourism, transport, recreation sports would be entitled for Duty Credit Scrip, an official release said on Wednesday.
Service providers with a total foreign exchange earning of a minimum Rs 10 lakh in the preceding or current fiscal would qualify for Duty Credit Scrip. For individual service providers, the limit has been fixed at Rs five lakh.
However, services not eligible for benefits under the scheme are sources of foreign exchange earnings, foreign exchange remittances, payments for services received from EEFC account, export turnover relating to services of units under SEZ/EOU and export of goods among others.
Service providers (except hotels, restaurants) are entitled to Duty Credit Scrip of 10 per cent of foreign exchange earned during preceding financial year.
Duty Credit Scrip may be used for import of any capital goods provided it is part of the main line of business. A Duty Credit Scrip of nearly Rs 1,000 crore is granted annually, based on previous years foreign exchange earned by service providers.
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