Rewards to Service Exports from India Scheme (SEIS)
The company had exported service of INR 9,12,61,742 in the financial year 2016-2017 . The company is also eligible for scrip under SEIS ( Foreign Trade Policy).
For claiming scrip under SEIS the company shall have to have an active Import Export Code(IEC) at the time of rendering such services for which rewards are claimed.
https://dgft.gov.in/exim/2000/FTP-2017//ftp17-051217.pdf (Page 53, para3.08, point(f))
The company did not had Import Export Code(IEC) in financial year 2016-2017.
Should company file the claim for scrip under SEIS or not?
In such case it is not an export at first place! Having said that, the system will not verify the date of allotment of IEC with the application period.
You can file and get seis. But you shouldnt!
CAclubindia
