Export of Goods and Services- Simplification and Revision of Softex Procedure.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of contract agreements and the duration involved in execution of each contract as well as the time-consuming process involved in the certification of SOFTEX forms, the matter was revisited and a revised procedure, given herein below, has now been finalised in consultation with the stakeholders involved. 3. As per the revised procedure, a software exporter, whose annual turnover is at least Rs. 1000 crore or who files at least 600 SOFTEX forms annually, will be eligible to submit a statement in excel format as per Annexure A, giving all particulars alongwith quadruplicate set of SOFTEX form to the nearest STPI.  STPI will then verify the details and decide on a percentage sample check of the documents in details. Software companies will submit all the documents on demand to STPI within 30 days of their advice or any reasonable/extended time at the discretion of the Director, STPI, at the request from the exporter. STPI will thus certify the statement and SOFTEX forms in bulk on the "Top Sheet" regarding the values etc. and will thereafter forward the first copy of the revised SOFTEX format to the concerned Regional Office of RBI, the duplicate copy alongwith bulk statem....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Name of authorized data com service provider • Import Export Code number • Software Export Declaration • Details of Export of Software during the period • Period of submission i.e. Month name • SOFTEX Number • Name of Client • Address of Client • Country of Export • Invoice Number • Invoice Date • Project Code or Contract or Agreement or PO & Date • Type of Software Exported • Invoice Currency • Offshore Invoice value • Details of billings on account of Royalty on Software Packages/products exported as per Annexure B • Period of submission i.e., Month name • SOFTEX Number • Name of Client • Address of Client • Country of Export • Invoice Number • Invoice Date • Unique internal Project Code or Contract/Agreement/PO Date • Invoice Currency • Offshore Invoice value • Details of Software Package(s)/product(s) exported • Royalty agreement de....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....oices raised on customers are collected. After meeting "onsite" branch expenses, as permitted by FEMA, net amount will be remitted to India. This would also include 100% realization of offsite exports. A. Periodicity - Quarterly B. Applicability - Software exporters with annual turnover in excess of Rs. 1,000 crore or submitting in excess of 600 Softex forms annually. C. Details of information - As per Annexure C, which will cover information as under • Name and Address of the Exporter • Import Export Code number • Details of invoice wise collections (Attachment A) • SOFTEX Number • Name of Customer • Invoice Number • Invoice Date • Invoice Currency • Offshore Invoice value • Offshore Invoice value realized • Date of Realization of exports proceeds • Name of the Bank • Country of the Bank • Details of Foreign Currency Inward Remittance in India(Attachment B). Authorized Dealers will give a control number for this Attachment B, which shall be used by them to settle all the softex forms in Attach....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Client Country Currency Invoice Number Invoice Date (DD/MM/YY) Internal project Type of SAV code/Contract' Exported Agreement No & date Offshore Export Value in Foreign Currency (INVOICE_AMT) SECTION-C DECLARATION BY EXPORTER We hereby declare that I/we am/are the seller of the software in respect of which this declaration is made and that the particulars given above are true and that the value to be received from the buyer represents the export value contracted and declared above. I/we also declare that the software has been developed and exported by using authorised and legitimate datacom links. I/We undertake that I/we will deliver to the bank named above the foreign exchange representing the full value of the software exported as above on or before invoice / date of last invoice raised during a month), in the manner specified in the Regulations made under the Foreign Exchange Management Act, 1999. (i.e. within six months from the date of Place Date Name Designation: Stamp Signature of the Exporter Space for use of the competent authority (l.e. STPUEPZ/SEZ) on behalf of Ministry of Communications & ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ied that the software described above was actually transmitted and the export value declared by the exporter has been found to be in order and accepted by us. Place: Date: Name: Designati Signature of the Designated Official of STPM/EPZ/SEZ on behalf of Ministry of Communications & Information Technology) Annexure C DECLARATION OF REALISATION AGAINST SOFTWARE EXPORT REPORTED FOR THE Qtr ENDED 1 Name and Address of the Exporter 2 Import Export Code: 3 Details of collections by Invoices in respective collections account As per Attachment A 4 Details of Foreign Inward Remittances against software exports As per Attachment B We hereby declare that we are the seller of the software in respect of which this declaration is made out and the particulars given above and the enclosed Annexures A and B are true. We also declare that the software has been developed and exported by using authorized and legitimate datacom links. We undertake that where full value of software exports are not realized within the prescribed time period, we shall notify the same and seek necessary approvals for delayed remittance as per the Foreign Exchange Man....