Benefit of SEIS.

[Arti Gupta]

Is benefit of SEIS applicable while payment has been received in INR?Kindly refer the relevant Para also.

AI Summary

Eligibility for SEIS Benefits: INR Payments Considered Deemed Foreign Exchange for Certain Services, Vostro Accounts Included. A discussion on the eligibility for the Service Exports from India Scheme (SEIS) when payments are received in Indian Rupees (INR) received three replies. One participant noted that SEIS requires foreign currency earnings, suggesting INR payments do not qualify. Another pointed out that exports to Iran with INR payments could be eligible for both MEIS and SEIS. A third contributor referenced specific provisions in the Foreign Trade Policy and a public notice, indicating that payments in INR for certain services are treated as deemed foreign exchange, thus qualifying for SEIS benefits. Payments through vostro accounts are also eligible.