Export of Services - Procedural Requirements

[Rajendra Prasad]

Dear Sir,

What are the procedural requirements for export of services.

1. Invoice as per Format

2. LUT

3. IE Code

4. Forex to be received to the bank account in convertible foreign exchange.

What else are required for export of it services.

[YAGAY andSUN]

Registration with MSME, GST and after receipt of consideration against export of service filing of online application for SEIS on DGFT website.

AI Summary

Export of services compliance requires invoice formalities, LUT, IEC, foreign exchange remittance, registrations and SEIS application. Export of services requires an invoice in prescribed format, a Letter of Undertaking where applicable, an Import Export Code, and receipt of consideration in convertible foreign exchange into the exporter's bank account. Exporters should hold GST registration, may register with MSME for benefits, and after receipt of payment must file an online application for the Service Exports from India Scheme (SEIS).