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of <h1>Foreign Trade Notice: Exclude VAT and Service Tax from Foreign Exchange Earnings in SFIS and SEIS Calculations.</h1> The Directorate General of Foreign Trade issued a notice clarifying that state and central taxes collected from customers, such as VAT and service tax, should not be included when calculating foreign exchange earnings for the Served From India Scheme (SFIS) and Service Exports from India Scheme (SEIS). These taxes, collected by service providers on behalf of the government, are not considered earnings. The notice emphasizes compliance with provisions from the Foreign Trade Policy and Handbook of Procedures, which specify that only foreign exchange earned from services rendered should be counted for duty credit entitlement calculations. This directive follows observations from a CAG audit.
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