95k Crores of incentives already distributed by Indian Government !
Government of India has distributed incentives worth over Rs. 95k Crores (till March 2019) under Service Export Incentives Scheme (SEIS) and Merchandise Export Incentives Scheme (MEIS).
If you provide services to overseas clients or export goods overseas, you may be eligible for these Incentives. A good number of Indian exporters have applied and got the incentives. The numbers are really encouraging.
As per the data available on the government’s official sources (DGFT), Scrips amounting to Rs. 95,812 Crores have already been issued till March 2019 (March 2020 figures were yet to be released while writing this article) . The total number of Scrips work out to 7.2 Lacs till the above date.
Under the above schemes the GoI awards incentives upto 7% of your net Export Turnover (Remember “Net Export Turnover” not “Net profit”).
Any Indian business can apply for the same if you meet the following criteria:
- You are an exporter of Services or Goods
- You have positive Net foreign exchange earnings (Forex receipts > Forex expenses )
- Your services or goods are covered under the eligible criteria listed by Government
Note: Exports from the Financial year 2017-2018 are eligible for these benefits.
So check your eligibility and enjoy the windfall incentives.
Check your eligibility here: https://forms.gle/CRETT7abKXM4vFjt7
For further questions or suggestions write to [email protected] or
call on +91 90216 48544.
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