Benefits under Served From India Scheme of the Foreign Trade Policy (FTP)
Benefits under Served From India Scheme of the Foreign Trade Policy (FTP) I ntroduction- This is the scheme, under foreign trade policy of india , under which certain service providers earning foreign exchange are eligible for duty scrip credit which can be utilised for payment of duty upon import of certain articles. Objective of the Served from the India Scheme- Objective of SFIS is to accelerate growth in export of services. Who is eligible for the benefits of served from india Scheme- Served From India Scheme is applicable for Indian service providers rendering services listed in Appendix 41 of Handbook of Procedures 2009-14 (w.e.f. 01.01.2011) and having free foreign exchange earning of at least Rs. 10 lac in the current financial year. For Individual Indian Service Providers, minimum free foreign exchange earnings have to be Rs 5 lac for eligibility of benefits under this scheme. For services rendered prior to 01.01.2011, Appendix 10 of HBPv1 would be applicable