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
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.