Tag Archives: SEIS

IATO seeks 5-10% of duty drawback for tour operators on forex earnings

Rajiv Mehra, President, IATO, has shared that they know that SEIS will not be given by the government. Hence, they have requested the Ministry of Finance and Ministry of Commerce that at least for tour operators and travel agents, whatever they earn in foreign exchange, a 5-10% duty drawback should be given to them. “But nothing has happened. We have had no response or no further meetings on this with them. There has been no headway. So, it looks like the government doesn’t want to do that. We have told them that to support the industry, this is the minimum they can do.”

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Govt is highly unlikely to continue with SEIS in the current format anymore’: Abhay Sinha, DG, SEPC

Abhay Sinha, Director General, Service Export Promotion Council (SEPC), has said that it is highly unlikely that Government will continue with SEIS in the current format anymore. “However, SEPC will continue to urge for an alternative incentive scheme to help the tour operators get back to their pre-COVID levels.”

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SEIS dues for FY 2019-20 to be finally paid, announces Ministry of Commerce & Industry

The Government has announced to clear all pending dues of exporters worth Rs. 56,000, which includes SEIS. An official release states, “Service sector exporters, including those in the travel, tourism and hospitality segments will be able to claim SEIS benefits for FY 2019-2020, for which Rs 2,061 crore has been provisioned. The SEIS for FY 2019-20 with certain revisions in service categories and rates is being notified. This support would have a multiplier effect and spur employment generation.” Piyush Goyal, Union Minister, Ministry of Commerce and Industry, announced that the Government has decided to budget Rs 56,027 crore in this Financial Year (FY22) itself in order to disburse all pending export incentives due to exports. The final date of filing application of due scrips for SEIS is 31st December. There will also be a dedicated portal for filing scrips dues and it will be made live soon.

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Department of Expenditure to release over Rs2,000 cr for SEIS this financial year

Arvind Singh, Secretary, Ministry of Tourism, has said that after considerable follow-up from all sides, even from Ministry of Commerce, the Department of Expenditure has said that they will release over Rs2,000 crore for SEIS in this financial year and a new budget has to be created. “The formalities have to be worked out, after which the amount will reach beneficiaries,” he shared.

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IATO meets & discusses issues with new MOT Secretary

 A delegation of Indian Association of Tour Operators (IATO), led by association President Pronab Sarkar, recently met Arvind Singh, the new Secretary – Tourism, Government of India. IATO welcomed him and took the opportunity to discuss some of the issues that have been plaguing the tourism sector, such as SEIS, MDA, etc. Secretary Singh assured the delegation of his intervention and positive action.

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