SME Times is powered by   
Search News
Just in:   • Goyal urges textile industry to focus on speed, skill and scale  • Goyal reviews the Amended Technology Up-gradation fund Scheme  • Stage set for pvt investment cycle  • Service rendered by govt, not its agency, only exempt from GST  • Cochin Airport ventures into hydropower production 
Last updated: 25 Sep, 2021  

Exports.9.Thmb.jpg Big relief for service sector with SEIS release: FIEO

   Top Stories
» Goyal urges textile industry to focus on speed, skill and scale
» Goyal reviews the Amended Technology Up-gradation fund Scheme
» Stage set for pvt investment cycle
» PM interacts with domestic vaccine manufacturers
» Goyal calls for free trade within rules-based multilateral trading system
SME Times News Bureau | 25 Sep, 2021

Exporters’ association Federation of Indian Exporter Organisation (FIEO) said that recent government notification on Service Exports from India Scheme (SEIS) will help service exporters of the country.

While welcoming the SEIS notification, FIEO President A Sakthivel thanked the Commerce & Industry Minister for providing much needed relief to services exporters.

The notification will ease the liquidity problem of services exporters particularly benefitting the travel, tourism and the hospitality sector, the worst victim of the pandemic, he said.

The last date of filing such claims by 31st Dec, 2021 should not cause much problem as SEIS benefits are post realisation and for services exports effected by 31st March 2020, the realisation has already been made, he added.

As regards the cap of Rs 5 Crore for each IEC holder, we will take up with the Government as services are much impacted during the Covid and require little more support.

Since services sectors now have been made eligible for SEIS both for 2018-19 and 2019-20, the flow of scrips will lessen the credit burden on them.

The FIEO President also thanked the Government for extending the export obligation period for Advance Authorisation and EPCG till 31st December, 2021, owing to supply side disruptions caused by the pandemic.

The extension will help all those who could not meet the export obligation either due to local lockdowns or container shortage or skyrocketed freight or lockdown in the export destinations.

This will also help in generating additional exports further helping the country to reach the new milestone of US$ 400 Bn besides job creation and attendant benefits for the economy, he added.

Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 25 Oct, 2021
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter