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#Objective  

To encourage and maximize export of notified services from India

#Available to whom? 

Service providers of notified services-located in India

#Reward %

3% to 7% (rates notified for specific services) of the on the net foreign exchange earned

#Eligibility

a)    For an individual service providers & sole proprietorship, minimum foreign exchange earnings should be US $10,000 in year of rendering service

b)    Other than individual & sole proprietorship service providers, minimum foreign exchange earnings of US $15,000 in year of rendering service

#Ineligible

Foreign exchange remittances other than those earned for rendering of notified services would not be counted for entitlement

#Utilisation

Duty credit scrip can be used for payment of -

a)    Basic Customs Duty and Additional Customs Duty as specified under section 3(1), 3(3) and 3(5) of the Customs Tariff Act, 1975 for import of inputs or goods, including capital goods, as per DoR Notification, (except items listed in Appendix 3A)

b)    Payment of Basic Customs Duty and Additional Customs Duty specified under Sections 3 (1), 3 (3) and 3 (5) of the Customs Tariff Act, 1975 and fee as per paragraph 3.18 of this Policy (in case of EO defaults for authorisations, composition fee under FTP)

c)    Payment of Central excise duties on domestic procurement of inputs or goods.

 #Transferability  

 Duty Credit Scrips and goods imported / domestically procured against them shall be freely transferable

Exporter service providers, so what are your waiting for???

Do get in touch with us for any further clarification on above and get your incentives on export of service. You may connect with us on e-mail id –  info@bizbrains.in  or at +91 (79) 48907720. For further details, visit our page.

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