By Tarun Ghia, Kevin Shah, Brijesh Cholera Chartered Accountants
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This Notification provides exemption to taxable services provided or agreed to be provided against Service Exports from India Scheme [SEIS] duty credit scrip issued to an exporter by the Regional Authority in accordance with paragraph 3.10 read with paragraph 3.08 of the Foreign Trade Policy.
The exemption can be availed if following conditions are complied:
1. T he duty credit in the said scrip is issued to a service provider located in India against export of notified services listed in Appendix 3D of Appendices and Aayat Niryat Forms of Foreign Trade Policy 2015-2020;
2. T he imports and exports are undertaken through the seaports, airports or through the inland container depots or through the land customs stations as mentioned in the Table 2 annexed to the Notification No. 16/2015- CUS (N.T.) dated 01.04.2015 or a Special Economic Zone notified u/s. 4 of the Special Economic Zones Act, 2005 (28 of 2005):
Provided that the Commissioner of Customs may within the jurisdiction, by special order, or by a Public Notice, and subject to such conditions as may be specified by him, permit import and export through any other sea-port, airport, inland container depot or through any land customs station.
3. Accordingly, the person claiming exemption benefit should be registered with the customs authorities and should provide services in the taxable territory.
4. The benefit of the scrip would be given after taking into consideration the benefit already availed under Notification 25/2012.
5. T he holder of the scrip presents the scrip debited by the said Customs Authority within thirty days to the said Officer, along with an undertaking addressed to the said Officer, that in case of any service tax short debited in the scrip, he shall pay such service tax along with applicable interest, based on which the officer shall verify and validate.
6. T he said holder of the scrip shall be entitled to avail drawback or CENVAT credit of the service tax so paid by way of debiting the duty scrip duly validated by the said Officer.
