Govt. SEIS rates for 2019-20 are announced, with a ceiling set

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admin November 9, 2021
Updated 2021/11/09 at 10:02 AM

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, providing some relief to services exporters (SEIS). The flow of SEIS benefits from 2018­-19 to 2019-­20 will ease the credit burden of such businesses, particularly those in the travel, tourism, and hospitality industries, which have been hit the hardest by the pandemic. Exporters, on the other hand, believe that the $5 billion ceiling should be reconsidered. “The service export industry has been waiting a long time for the SEIS benefit rates to be announced,” said Abhishek Jain, a tax partner at EY, who added that the value cap “seems to be quite upsetting” for the industry. The exporters’ body, according to FIEO president A Sakthivel, will raise the issue of the cap with the government. “Services sectors have been severely impacted by the pandemic and require a little more assistance,” he explained.

 

Source: The Hindu

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