Checks for SEIS/MEIS application for maximum advantage
How to decide, when you should file an application for grant of incentives under the SEIS scheme of DGFT. You need to make sure that the Invoices raised by you during the year has been remitted to your account by your client to avail the benefits to the fullest. One can file the application for FY 2018-19 by 31st March 2020 to avail the reward without imposing any cut.
Last year by mid term review of FTP, the benefits were increased by 2% effective 1st November 2017. In case your last year incentives are yet to be availed, divide your application under two parts for different percentages of benefit availment. The validity of duty credit scrips was also raised from 18 months to 24 months for SEIS.
Effective 6th October 2017, the rate of GST on duty scrips was made NIL. The duty credits scrips were made transferable long back.