{"id":25167,"date":"2026-01-01T13:57:55","date_gmt":"2026-01-01T08:27:55","guid":{"rendered":"https:\/\/blog.razorpay.in\/blog\/?p=25167"},"modified":"2026-02-09T12:09:29","modified_gmt":"2026-02-09T06:39:29","slug":"seis-scheme-india-export-guide","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/seis-scheme-india-export-guide\/","title":{"rendered":"SEIS Scheme: Understanding Its Past and India&#8217;s Export Future"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The Service Exports from India Scheme (SEIS) was introduced to help service-based exporters by offering duty credit scrips (incentives issued by the Government of India to exporters) of up to 7% on their net foreign earnings. This gave businesses a better cash flow window to reinvest, expand globally, and stay competitive.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, under the Foreign Trade Policy 2023, SEIS has been discontinued. This marks a clear shift in the government\u2019s approach: instead of subsidies, the focus is now on faster cross-border payments, digital compliance, and easier documentation. To stay competitive, exporters must adapt to this new framework and explore current alternatives and modern solutions for global payments.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But you don\u2019t need to look elsewhere \u2013 just read on as we break down how SEIS evolved, why it was discontinued, and what exporters should do now.<\/span><\/p>\n<div style=\"border-left: 4px solid #0073aa; background: #f0f8ff; padding: 15px; margin: 20px 0; border-radius: 5px;\">\n<h2 style=\"color: #0073aa; font-size: 18px; margin: 0 0 8px 0; display: inline-block;\">Key Takeaways<\/h2>\n<ul style=\"display: inline-block; margin: 0 0 0 10px; padding-left: 18px; vertical-align: top;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">SEIS was introduced under FTP 2015\u201320 and offered duty credit scrips of up to 7% on net foreign earnings\u00a0 helping service exporters manage costs and improve cash flow.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The scheme was discontinued from FY 2020 onwards, as the government shifted its focus from incentives to digital compliance and smoother <a href=\"https:\/\/razorpay.com\/blog\/cross-border-payments-guide\/\">cross-border<\/a> transactions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">SEIS claims were only accepted for services exported up to FY 2019\u201320, with the final deadline for filing applications extended to 28 February 2022.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To qualify, exporters required an active IEC, minimum foreign exchange earnings, valid documentation, and CA-certified proof of realised earnings.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Razorpay <a href=\"https:\/\/razorpay.com\/blog\/money-saver-export-account\/\">MoneySaver Export Account<\/a> helps exporters manage costs and receive international payments more efficiently in the absence of duty credit scrips<\/span><\/li>\n<\/ul>\n<\/div>\n<h2><b>Understanding the Service Exports from India Scheme (SEIS)<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">To encourage global trade in services, the government introduced the SEIS under the Foreign Trade Policy 2015\u20132020. It was designed to reward Indian businesses and professionals who earned foreign exchange through service exports. For several years, SEIS acted as a financial push for service exporters and helped India position itself as a global services hub.<\/span><\/p>\n<p><strong>Here\u2019s what the scheme aimed to do:<\/strong><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">SEIS was a key part of India\u2019s Foreign Trade Policy (2015\u20132020) and incentivised Indian service providers, including SaaS companies, freelancers, consultants, and IT firms.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Its core objective was to boost service exports by offering rewards calculated as a percentage of net foreign exchange earnings.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The scheme was created to make Indian services more competitive globally, especially across sectors like IT, healthcare, tourism, finance, and professional services.<\/span><\/li>\n<\/ul>\n<h2><b>The Evolution and Discontinuation of the SEIS Scheme<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">SEIS scheme was launched on 1 April 2015, replacing the Served From India Scheme (SFIS) with wider coverage and more flexible benefits. It allowed exporters to earn duty credit scrips based on <a href=\"https:\/\/razorpay.com\/blog\/foreign-exchange-market-india\">foreign exchange<\/a> earnings and use them to reduce costs or improve cash flow.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The scheme ended after FY 2019\u201320. Later, the DGFT issued a notice on 20 February 2023 confirming that SEIS benefits had stopped from 1 April 2020.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One key reason for its discontinuation was the strong performance of India\u2019s services export sector. Policymakers assessed that exporters were already expanding globally without direct benefits, and government efforts could be better directed toward digital trade infrastructure, simplified compliance, and faster cross-border payments.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">No new SEIS benefits are being issued, but exporters were allowed to file claims for services provided up to FY 2019\u201320. The final deadline for applications was 31 December 2021, which was later extended to 28 February 2022 through notification.<\/span><\/p>\n<h2><b>Benefits of SEIS Duty Credit Scrips for Exporters<\/b><\/h2>\n<p>SEIS played a crucial role in supporting India\u2019s service export ecosystem. By offering duty credit scrips linked to foreign earnings, it helped businesses manage operational costs and improve their cash flow during expansion phases. For many service-based exporters, it acted as a safety net while entering international markets.<\/p>\n<p><b>Here\u2019s how SEIS duty credit scrips benefited exporters:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Eligible service providers received financial instruments based on their net foreign exchange earnings, directly rewarding their export performance.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Incentive rates typically ranged between 3% and 7%, depending on the service category and policy revisions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">These scrips could be used to offset government duties and taxes, including basic customs duty, additional customs duty on imports, and central excise duty on domestic procurement.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">One of the most valuable features was free transferability\u00a0 exporters could sell the scrips in the open market if they didn\u2019t need them for duty payments, turning them into a direct cash benefit.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: center;\"><a style=\"background-color: #1a73e8; color: #ffffff; font-weight: 800; padding: 7px 15px; border-radius: 7px; font-size: 16px; text-decoration: none; display: inline-block; white-space: nowrap;\" href=\"https:\/\/razorpay.com\/international-payment-gateway-india\/?utm_source=blog&amp;utm_medium=referral&amp;utm_campaign=internationalpayments\">Explore Razorpay&#8217;s Global Payment Solutions<\/a><\/p>\n<h2><b>Eligibility Criteria and Ineligible Services for Past SEIS Claims<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">SEIS benefits were available only to genuine service exporters located in India. The government laid down clear eligibility conditions to avoid misuse and ensure that only actual export earnings were rewarded.<\/span><\/p>\n<h3><b>Who Was Eligible?<\/b><\/h3>\n<p><b>Here\u2019s what the scheme required at the basics:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Service providers had to be based in India and must have held a valid <a href=\"https:\/\/razorpay.com\/import-export-code\/\">Importer Exporter Code<\/a> (IEC) when the services were rendered.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A minimum level of net foreign exchange earnings was required:<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">US$15,000 for companies, LLPs, and partnership firms<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">US$10,000 for individuals and sole proprietors<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Only services exported under Mode 1 (cross-border trade) and Mode 2 (consumption abroad) were considered eligible.<\/span><\/li>\n<\/ul>\n<h3><b>Who Was Not Eligible?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Certain services and income streams were excluded from SEIS benefits. Claims could not be made if:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The foreign earnings were from equity investments, donations, debt, or loan repayments, and not from service exports.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The income was related to financial services, regular employment abroad, or labour remittances.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The services were supplied to units operating under <a href=\"https:\/\/razorpay.com\/blog\/export-oriented-unit\/\">EOU<\/a> (Export Oriented Unit), EHTP (Electronic Hardware Technology Park), STPI (Software Technology Parks of India), or BTP (Bio-Technology Park) schemes.<\/span><\/li>\n<\/ul>\n<h2><b>Application Process for SEIS Scrips (Historical Overview)<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">When SEIS was active, service exporters had to follow a defined application process to claim duty credit scrips. The procedure was largely digital, but accuracy and timely documentation were critical to avoid delays or rejection.<\/span><\/p>\n<p><b>Here\u2019s how the application process worked in practice:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The application for SEIS duty credit scrips was filed online each year through the DGFT portal, using the prescribed ANF 3B form along with a valid digital signature. Only applications submitted through this format were considered for evaluation.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To support the claim, exporters had to attach several essential documents. These typically included the Importer Exporter Code (IEC) Certificate, <a href=\"https:\/\/razorpay.com\/blog\/rcmc-certificate\/\">Registration-cum-Membership Certificate<\/a> (RCMC) from the relevant export promotion council, a detailed statement of export invoices, and <a href=\"https:\/\/razorpay.com\/blog\/bank-realisation-certificate-brc\/\">Bank Realisation Certificates<\/a> (BRCs) or <a href=\"https:\/\/razorpay.com\/blog\/firc-certificate\/\">FIRCs<\/a> to prove that foreign exchange had been received in India.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Verification of net foreign earnings was mandatory, and this had to be certified by a Chartered Accountant (CA), Cost Accountant (ICWA), or Company Secretary (CS). The certificate was submitted along with declarations and other supporting enclosures specified by the DGFT.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">There was also a strict submission window. Applications had to be filed within 12 months from the end of the financial year in which the services were rendered. Submissions made after this deadline were still accepted in some cases, but could invite penalties, and delays increased the risk of rejection.<\/span><\/li>\n<\/ul>\n<h2><b>Navigating the Post-SEIS Landscape: Alternatives for Service Exporters<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">With SEIS no longer active, exporters now need to shift their focus to other available support mechanisms. While incentives may not follow the same format as duty credit scrips, several schemes still offer financial assistance, credit support, and market access to help grow service exports in global markets.<\/span><\/p>\n<p><b>Here are key alternatives worth exploring:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Market Access Initiative (MAI) scheme offers funding for export promotion activities such as market research, international trade fairs, overseas branding, and delegation visits.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The <a href=\"https:\/\/razorpay.com\/blog\/interest-equalisation-scheme-for-exporters\/\">Interest Equalisation Scheme<\/a> (IES) reduces borrowing costs by providing subsidised interest rates on pre- and post-shipment rupee export credit for eligible exporters.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Multiple startup support programmes and state-level export incentives now focus on helping service-based businesses adopt technology, improve processes, and build global capabilities.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Exporters may also benefit from sector-specific initiatives under <\/span><i><span style=\"font-weight: 400;\">Make in India<\/span><\/i><span style=\"font-weight: 400;\">, <\/span><i><span style=\"font-weight: 400;\">Digital India<\/span><\/i><span style=\"font-weight: 400;\">, and <\/span><i><span style=\"font-weight: 400;\">Startup India<\/span><\/i><span style=\"font-weight: 400;\">, depending on their service category and growth stage.<\/span><\/li>\n<\/ul>\n<div style=\"border-left: 4px solid #0073aa; background: #f0f8ff; padding: 15px; margin: 20px 0; border-radius: 5px;\">\n<h2 style=\"color: #0073aa; font-size: 18px; margin: 0;\">Did You Know?<\/h2>\n<p style=\"margin-top: 10px;\"><i><span style=\"font-weight: 400;\">Under SEIS, eligible service exporters received duty credit scrips worth 3% and 7% of their net foreign exchange earnings. These scrips were fully transferable and could also be used to pay various central duties and taxes, including basic customs duty, making them a valuable financial tool for managing operational costs.<br \/>\n<\/span><\/i><\/p>\n<\/div>\n<h3><b>MAI vs IES<\/b><\/h3>\n<table>\n<tbody>\n<tr>\n<td><b>Aspect<\/b><\/td>\n<td><b>Market Access Initiative<\/b><\/td>\n<td><b>Interest Equalisation Scheme<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Objective<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Promote exports through market visibility and outreach<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Reduce cost of export credit<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Key Benefit<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Financial assistance for trade fairs, surveys, marketing and branding<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Subsidised interest rates on export-related loans<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Who Can Benefit<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Exporters looking to expand overseas visibility<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Exporters needing credit for pre\/post shipment<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Type of Support<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Financial assistance for export promotion activities<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Interest subsidy on export credit in INR<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Focus Area<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Market development &amp; promotion<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Financial relief &amp; credit support<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><b>Ease your Global Transactions with Razorpay MoneySaver Export Account<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">When SEIS was active, exporters could offset costs using duty credit scrips. With those incentives now discontinued, managing expenses on cross-border payments has become a key concern\u00a0 especially for service exporters who operate on tight margins. That\u2019s where the Razorpay MoneySaver Export Account comes in.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Instead of depending on incentives, exporters now have access to a system built not only for cost efficiency, but also for faster settlements, seamless documentation, and reliable compliance\u00a0 all in one place. Here\u2019s how it can help you:<\/span><\/p>\n<h3><b>Receive International Payments Like a Local Vendor<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Razorpay creates a virtual account in your name, with local bank transfer details for regions such as the US, UK, and Europe. Clients can pay you using domestic methods like ACH or SEPA. Funds are then converted and settled in INR directly to your Indian bank account. This makes the payment experience familiar for your clients and faster for you.<\/span><\/p>\n<h3><b>Reduce Forex Charges and Hidden Transfer Fees<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Traditional bank transfers often include hidden charges and markups on currency conversion. The MoneySaver Export Account helps exporters save significantly by offering zero forex markup, and transparent conversion at the live market rate. This improves your earning margin right at the payment stage\u00a0 without waiting for incentives like SEIS.<\/span><\/p>\n<h3><b>Automated Digital FIRC for Faster Export Documentation<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Exporters frequently face delays while waiting for FIRC and payment proof from banks. Razorpay solves this with automated digital FIRC, generated within seconds of settlement. Instead of requesting documents manually or making follow-ups, you have access to export-ready documentation that keeps your records organised and easier to track.<\/span><\/p>\n<h3><b>Higher Success Rates With Global Payment Gateway<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">If you take payments through your website, invoices, or e-commerce platforms, Razorpay\u2019s international payment gateway helps you offer a smooth payment experience to buyers abroad. It supports Apple Pay, international cards, and digital wallets\u00a0 while maintaining 90%+ global success rates using intelligent routing and fraud protection. This improves conversions and reduces failed transactions during the checkout process.<\/span><\/p>\n<div style=\"background: #f5faff; border-radius: 14px; padding: 30px; text-align: center; margin: 42px 0; box-shadow: 0 8px 20px rgba(26,115,232,0.08);\">\n<h2 style=\"color: #1a73e8; font-size: 24px; font-weight: bold; margin-bottom: 12px;\"><strong>Simplify Cost-Efficient Global Payments with Razorpay\u00a0<\/strong><\/h2>\n<p style=\"color: #444; font-size: 16px; max-width: 720px; margin: 0 auto 18px; line-height: 1.6;\"><strong>Reduce forex costs, speed up settlements, and stay export-compliant with a smarter payment system built for Indian exporters.<\/strong><\/p>\n<p><a style=\"display: inline-block; background: #1a73e8; color: #ffffff; padding: 14px 26px; font-size: 16px; font-weight: bold; border-radius: 10px; text-decoration: none;\" href=\"https:\/\/razorpay.com\/accept-international-payments\/bank-transfers\/\/?utm_source=blog&amp;amp;utm_medium=referral&amp;amp;utm_campaign=internationalpayments%22%3E%3Cem%3E%3Cstrong%3ERazorpay%E2%80%99s\">Razorpay MoneySaver Export Account<\/a><\/p>\n<\/div>\n<h2><b>Conclusion<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">SEIS played a major role in strengthening India\u2019s service export ecosystem between 2015 and 2020. It offered a financial cushion through duty credit scrips and helped many businesses expand their presence overseas. But with SEIS now discontinued, the export landscape has moved towards a more efficiency-driven model.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Today, service exporters need to rely on new government schemes, digital payment solutions, and smarter financial tools to manage international operations. The focus is clear\u00a0 faster payments, clean compliance, and better visibility into export transactions.<\/span><\/p>\n<h2><b>FAQs<\/b><\/h2>\n<h3><b>1. What is the full form of SEIS and its main objective?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">SEIS stands for Service Exports from India Scheme. It was introduced under the Foreign Trade Policy (2015\u20132020) to encourage India\u2019s service exports by offering incentives on net foreign exchange earnings.<\/span><\/p>\n<h3><b>2. Is the SEIS scheme still active for Indian service exporters?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">No. SEIS was discontinued after the financial year 2019\u201320, and no direct replacement has been announced specifically for service exporters.<\/span><\/p>\n<h3><b>3. How did SEIS Duty Credit Scrips work, and what could they be used for?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">SEIS duty credit scrips were issued as incentives based on the net foreign exchange earned by the exporter. They could be used to pay import duties, excise duties on domestic purchases, and other eligible taxes.<\/span><\/p>\n<h3><b>4. What were the eligibility criteria for claiming SEIS benefits?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">To be eligible, a service provider had to:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Be based in India with an active IEC<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Earn minimum net foreign exchange of:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">USD 15,000 (for companies), or<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">USD 10,000 (for individuals\/sole proprietors)<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Only services exported under Mode 1 and Mode 2 were considered eligible.<\/span><\/li>\n<\/ul>\n<h3><b>5. What documents were required to apply for SEIS scrips?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Typical documents included:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">IEC Certificate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">RCMC<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Export invoice statements<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">BRC or FIRC as proof of forex realisation<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">CA\/ICWA\/CS certificate confirming net foreign exchange earnings<\/span><\/li>\n<\/ul>\n<h3><b>6. Are there any alternatives to SEIS for service exporters?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">There is no one-to-one replacement, but exporters can benefit from other schemes such as:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Market Access Initiative (MAI)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Interest Equalisation Scheme (IES)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Startup-focused and state-level export promotion programs<\/span><\/li>\n<\/ul>\n<h3><b>7. How can the Razorpay MoneySaver Export Account help service exporters?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The Razorpay MoneySaver Export Account offers a modern way for Indian exporters to receive international payments without dealing with complex bank procedures or repeated clarifications. It enables exporters to receive funds through local bank transfers from clients abroad, which feel like domestic payments for them.\u00a0<\/span><br \/>\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [\n    {\n      \"@type\": \"Question\",\n      \"name\": \"What is the full form of SEIS and its main objective?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"SEIS stands for Service Exports from India Scheme. It was introduced under the Foreign Trade Policy 2015\u20132020 to promote India\u2019s service exports by providing incentives based on net foreign exchange earnings.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Is the SEIS scheme still active for Indian service exporters?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"No. The SEIS scheme was discontinued after the financial year 2019\u201320, and there is currently no direct replacement scheme specifically for service exporters.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"How did SEIS duty credit scrips work, and what could they be used for?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"SEIS duty credit scrips were issued as incentives based on net foreign exchange earned. These scrips could be used to pay import duties, excise duties on domestic procurement, and other eligible government levies.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"What were the eligibility criteria for claiming SEIS benefits?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"To claim SEIS benefits, the service provider had to be based in India with a valid IEC and earn minimum net foreign exchange of USD 15,000 for companies or USD 10,000 for individuals or sole proprietors. Only services exported under Mode 1 and Mode 2 were eligible.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"What documents were required to apply for SEIS scrips?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Required documents typically included the IEC certificate, RCMC, export invoice statements, BRC or FIRC as proof of foreign exchange realisation, and a CA, ICWA, or CS certificate confirming net foreign exchange earnings.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Are there any alternatives to SEIS for service exporters?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"There is no direct replacement for SEIS. However, service exporters may benefit from schemes such as the Market Access Initiative, Interest Equalisation Scheme, and various startup focused or state level export promotion programmes.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"How can the Razorpay MoneySaver Export Account help service exporters?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"The Razorpay MoneySaver Export Account helps service exporters receive international payments through local bank transfers from overseas clients. This reduces banking complexity, speeds up settlements, and removes the need for repeated compliance clarifications.\"\n      }\n    }\n  ]\n}\n<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Service Exports from India Scheme (SEIS) was introduced to help service-based exporters by offering duty credit scrips (incentives issued by the Government of India to exporters) of up to 7% on their net foreign earnings. This gave businesses a better cash flow window to reinvest, expand globally, and stay competitive. However, under the Foreign<\/p>\n","protected":false},"author":103,"featured_media":25869,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1067],"tags":[],"class_list":{"0":"post-25167","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cross-border"},"_links":{"self":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/25167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/users\/103"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/comments?post=25167"}],"version-history":[{"count":1,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/25167\/revisions"}],"predecessor-version":[{"id":25168,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/25167\/revisions\/25168"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media\/25869"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media?parent=25167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/categories?post=25167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/tags?post=25167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}