To accelerate the growth of export of service DGFT has introduced the incentive scheme for exporter of services from India. The scheme is called as SERVED FROM INDIA SCHEME (SFIS). An individual earning more than Rs. 5 lakhs free foreign exchange and other than individual earning more than Rs. 10 lakhs free foreign exchange during the preceding financial year is eligible for this benefit.
The service provider is eligible for Duty entitlement scrip of 10% of free foreign exchange earned during the period. Duty Credit scrip may be used for import of any capital goods including spares, office equipment and professional equipment, office furniture and consumables; that are otherwise freely importable and / or restricted under ITC (HS). Imports shall relate to any service sector business of applicant.
Services and Service Providers as listed in Para 3 .6.1 of Handbook of Procedures (Vol. I) shall not be entitled for benefits under the SFIS scheme. The application can be filed with jurisdictional RA in form ANF 3B along with document prescribed therein on monthly/quarterly/ half-yearly/ annual basis.
The benefit is available under Foreign Trade Policy Para No. 3.12 and Handbook of Procedures (Vol. I) Para No. 3.6.
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