Served from India Scheme (SFIS)

Served from India Scheme (SFIS) :- (Under Chapter 3 of FTP)

·       Eligibility for the Scheme for the Services Listed in Appendix 10 of HBP V1

·       Minimum Foreign Exchange Earning of Rs. 10 Lakh in preceding Financial Year

·       For Individual Exporter Minimum Foreign Exchange Earning is 5 Lakh for Duty credit Scrip.

·       Duty credit benefit of 10% of Free Foreign Exchange earnings will be entitled.

The Duty Credit Scrip utilized in Import :

·        Import of any Capital Goods

·       Office Equipment and Professional Equipment

·       Office furniture and Consumables which are freely importable or Restricted under ITC (HS) are allowed for imports against this licence.

The Duty Credit Scrip is Non Transferable but Utilised in Import within Group Company.

Ineligible Remittances and Services for SFIS scheme Hand Book of Procedure Para 3.6.1 Foreign exchange remittances other than those that are earned for rendering of services would not be counted for entitlement. Thus, other sources of foreign exchange earnings such as equity or debt participation, donations, receipts of repayment of loans etc. and any other inflow of foreign exchange, unrelated to rendering of service, would be ineligible. For calculation of entitlement, following shall not be taken into account. a) Foreign Exchange remittances: I. related to Financial Services Sector 1. Raising of all types of foreign currency Loans; 2. Export proceeds realization of clients; 3. Issuance of Foreign Equity through ADRs / GDRs or other similar instruments; 4. Issuance of foreign currency Bonds; 5. Sale of securities and other financial instruments; 6. Other receivables not connected with services rendered by financial institutions; and II. earned through contract/regular employment abroad (e.g. labour remittances); b) Payments for services received from EEFC Account; c) Foreign exchange turnover by Healthcare Institutions like equity participation, donations etc. (However, remittances received on account of medical treatment, surgery, testing, consultancy and health care provided by the institution shall be eligible.); d) Foreign exchange turnover by Educational Institutions like equity participation, donations etc. (However remittances received on account of the course fees and consultancy provided by the institution shall be eligible.); e) Export turnover relating to services of units operating under SEZ / EOU / EHTP / STPI / BTP Schemes or supplies of services made to such units; f) Clubbing of turnover of services rendered by SEZ / EOU / EHTP / STPI / BTP units with turnover of DTA Service Providers; g) Service Providers in Telecom Sector (Sr. No 2C of Appendix 10); h) Foreign Exchange earnings for Services provided by Airline and Shipping Lines Service providers for routes plying from any country X to any country Y only, not touching India at all; and i) Exports of Goods.

FDA Monitoring Food Imports from India

The US Food and Drug Administration has set up the Inter Agency Import Safety Group, an outcome of which has been the establishment of FDA offices in China and India. Consequent to facing severe criticism, FDA is stringently monitoring the quality of food imports from countries that they view as 'high risk', including India. A recent example is the rejection by FDA of containers of rice from India due to presence of fifth (dirt) ingrained in the rice, which was found in a macroscopic/microscopic examination conducted by the FDA approved lab. It would therefore be in the interest of Indian Agricultural & Processed Food Products Exporters to US to ensure that their products meet the stringent monitoring of quality by the USFDA. Before the export orders are executed, the exporter must obtain complete information about standards relating to product, process, packaging, labelling etc.