The Directorate General of Foreign Trade (DGFT) has revised the Foreign Trade policy for specified labour-intensive industries, such as, Textile, leather, agriculture, carpets, marine-products, etc., and also specified service sectors, by way of providing enhanced benefits under the *Merchandise Export from India Scheme (MEIS) and the Service Export from India Scheme(SEIS).
The major key points includes SEIS Rate has been increased from 5% to 7% for export of Professional Services, R&D Services, Rental & Leasing services, Business services, Tourism related services, Recreational, Cultural, and Sporting services, Transport services, Construction and related Engineering services, Educational services, and Health-related and Social services.
Notified SEIS Rate would be valid until 31.03.2018. It will be revised and announced at a later point in time. Installation certificate has to be obtained from the jurisdictional Customs Authorities instead of Central Excise Authorities, or from the Independent Chartered Engineer, at the option of the EPCG Holder.