Is Softex form mandatory?
The RBI had vide a Circular in September 20131, laid down a revised procedure for filing of SOFTEX making it mandatory for ALL exporters. The instruction takes precedence over a Notification from RBI in 20042 requiring the filing of SOFTEX only if the invoice value exceeded UD $ 25,000.
What are Softex forms?
In general exports refers to sending ‘goods and service’ to clients in foreign country that is outside territorial borders of India for reason of sale.
What is meant by Softex?
EXCHANGE CONTROL
SOFTWARE EXPORT DECLARATION (SOFTEX) FORM. (For declaration of Software Exports through data-communication links. and receipt of Royalty on the Software Packages/Products exported)
How do I submit a form to Softex?
Fill in the online Softex Form available on the STPI website not later than 30 days from the date of invoice or date of last invoice raised in a month. Upload the filled Softex Form along with the Invoices, Contracts (if not pre-registered), Softex letter as generated from the RBI facility portal and the data com bill.
Who is eligible for Softex?
Applicability – Software exporters with annual turnover in excess of Rs. 1,000 crore or submitting at least 600 Softex forms annually.
Why is non STPI registration mandatory?
Non STPI registration is required for all entities that want to export some form of software outside India. Such form of registration is required when companies want to export some form of software from the country. When goods are exported from India they would pass through normal customs.
Who is eligible for SofTex?
What services are covered under SofTex?
Within this context, IT covers both software products and services including design and development, implementation and deployment, software maintenance, etc. ITeS includes all the services that are enabled by Information Technology (BPO, KPO, data processing, etc.).
Is STPI registration mandatory?
Apart from STP entities, which are mandatorily required to obtain STPI registration, even Non-STP entities engaged in export of software is required to obtain the registration as Non-STPI unit to avail Softex certification.
What services are covered under Softex?
What is the difference between STPI and non STPI?
An Indian Company or A subsidiary of a Foreign Company or A branch office of a Foreign Company is eligible to become STP unit. Any form of an entity can obtain Non-STPI registration. However, such entity should have some form of software which can be exported outside India.
Who is required to register with STPI?
As per RBI circular dated 13th September 2013, the exporters of the software will have to declare all the export transactions in SOFTEX, including those less than US$25,000. This means, all companies exporting software, irrespective of the value, have to register as Non-STPI units and file SOFTEX forms.
How do I file a non-STPI return?
Registration process for new unit-
- Before obtaining registration, Non-STPI units will have to submit quarterly and annual returns in their particular formats.
- The applicant will have to pay INR 1,000 + GST as application fees.
- The certificate of registration will be valid for a period of three years.