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Service Exports From India Scheme (‘SEIS’) – Are You Ready To Apply from April 1, 2016 The Service Exports from India Scheme (‘SEIS’) was introduced last year under the new  Foreign Trade Policy 2015-2020  (‘the FTP’) to encourage export of services from India. The new SEIS policy initiative is a much better policy initiative than the erstwhile Served From India Scheme (‘SFIS’) that had its own limitations in terms of usage and transferability. The idea behind SEIS is simply to encourage service exporters by way of grant of a duty credit scrip that can be used for a variety of purposes including payment of customs duty, excise duty and service tax on all goods and services except those specifically prohibited. The Commerce Minister could very well sense the challenges faced by service exporter in the erstwhile SFIS scheme and basis that, the new and much improved SEIS policy was announced. The major difference between these two schemes is that the new scheme recognize...