TaxTMI 
TaxTMI 
Is benefit of SEIS applicable while payment has been received in INR?Kindly refer the relevant Para also.
Benefit of SEIS.
02 Jan 2017 
3 Replies 
1687 Views Asked by
Deemed foreign exchange: payments in Indian rupees for specified services qualify for SEIS, including vostro receipts.
SEIS eligibility hinges on meeting a minimum Net Foreign Exchange requirement and maintaining specified registrations and documentary evidence (IEC, RCMC, CA-certified forex details/FIRC, quarterly export council returns), with applications filed online at DGFT using digital signatures. Payments received in Indian rupees for specified services are treated as deemed foreign exchange for SEIS eligibility, and INR receipts through vostro accounts are recognised as eligible export receipts under the applicable FTP provisions and public notices. (AI Summary)
SEIS eligibility hinges on meeting a minimum Net Foreign Exchange requirement and maintaining specified registrations and documentary evidence (IEC, RCMC, CA-certified forex details/FIRC, quarterly export council returns), with applications filed online at DGFT using digital signatures. Payments received in Indian rupees for specified services are treated as deemed foreign exchange for SEIS eligibility, and INR receipts through vostro accounts are recognised as eligible export receipts under the applicable FTP provisions and public notices. (AI Summary)