Business

Govt. notifies SEIS rates for 2019-20, sets ceiling

Bringing some relief to services exporters, the government on Thursday notified the benefits to be given for exports undertaken in 2019-20, but capped entitlements at ₹5 crore per exporter under the Service Exports from India Scheme (SEIS).

The flow of SEIS benefits from 2018-19 and 2019-20 will ease the credit burden of such firms, especially for players in the travel, tourism and hospitality sectors that have been hit hardest in the pandemic.

However, the ₹5-crore ceiling needs a rethink, exporters said. “The service-export industry was waiting for the rates to be notified for SEIS benefit since a long time,” said Abhishek Jain, tax partner at EY, adding the value cap ‘seems to be quite upsetting’ for the industry.

FIEO president A Sakthivel said the exporters’ body would take up the issue of cap with the government.

“Services sectors have been impacted much during the pandemic and require a little more support,” he told The Hindu.


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Printable version | Oct 27, 2021 6:50:58 PM | https://www.thehindu.com/business/govt-notifies-seis-rates-for-2019-20-sets-ceiling/article36638809.ece

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