SERVED FROM INDIA SCHEME (SFIS)
Objective: To accelerate growth in export of services so as to create a powerful and unique �Served From India� brand, instantly recognized and respected world over.
Eligibility: All Indian service providers who have free foreign exchange earning of at least Rs 10 Lakhs in preceding financial year / current financial year.
Incentive: Duty credit @ 10% of free foreign exchange earned during current financial year. Free foreign exchange earned through International Credit Cards and other instruments as permitted by RBI for rendering of service are also taken into account for computation of Duty Credit Scrip.
Utilization: Duty Credit may be used for import of any capital goods including spares, office equipment and professional equipment, office furniture and consumables. Furthermore, hotels can import consumables such as food items and alcoholic beverages in addition to capital goods. This import can relate to any service sector business of applicant. Entitlement / goods (imported / procured) are transferable only within company group and managed hotels.
Payment of Excise Duty: Additionally, this Duty Credit Scrip can also be utilized for payment of excise duty for procurement of items, permitted by Department of Revenue (DoR), from domestic sources.
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*All above subject to EXIM policy in force