MONU JAIN (PROPRIATORS) 29 December 2013
To accelerate growth in export of services so as to create a powerful and unique “ Served From India Brand “ instantly recognized and respected all over the world , The Govt. of India has introduce” Served From India Scheme. “
Indian Service Providers, of services listed in Appendix 41 of HBPv1, who have free foreign exchange earning of at least Rs. 10 lakhs in current financial year will be eligible for Duty Credit Scrip. For Individual Indian Service Providers, minimum free foreign exchange earnings would be Rs 5 Lakhs.
(a) Service Providers of services listed in Appendix 41 of HBPv1 would alone be eligible. Such eligible service providers will be entitled to Duty Credit Scrip equivalent to 10% of free foreign exchange earned during current financial year (w.e.f 1.1.2011). For services rendered prior to 1.1.2011, Appendix 10 of HBP v1 would be applicable.
(b) Service providers are entitled to duty credit scrips under Served from India Scheme at the rate of 10% of free foreign exchange earned during a financial year. The entitlement shall now be calculated on the basis of net free foreign exchange earned (i.e., after deducting foreign exchange spent from the total foreign exchange earned during the financial year).
For more details please log on to – www.refundindia.com
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