India Updates Terms of SEIS Benefits for Services Rendered in FY 2019-20

The list of eligible services and rates under the Service Exports from India (SEIS) Scheme for services rendered in fiscal year 2019-20 was updated in a Sept. 23 notification. The limit on total entitlement under SEIS has been imposed for service exports from April 1, 2019, to March 31, 2020, and capped at Rs 5 Crore per Importer Exporter Code, the notification said. This amounts to over $678,000. Also, the facility to claim benefits under SEIS payments in Indian rupees shall not be available for services in FY 2019-20, and the deadline for submissions for SEIS benefits for FY 2019-20 is Dec. 31. Late cut provisions for the applications will not apply.