FEMA – 80 – Dated:- 15-2-2012 – RBI/2011/12/400 A.P. (DIR Series) Circular No. 80 February 15, 2012 To All Authorised Dealers in Foreign Exchange Madam / Sir, Export of Goods and Services- Simplification and Revision of Softex Procedure Attention of the Authorised Dealers is invited to Regulation 6 of the Notification No.FEMA 23/2000-RB dated May 3, 2000 viz. Foreign Exchange Management (Export of Goods and Services) Regulations, 2000, as amended by the Notification No.FEMA 36/2001-RB dated February 2, 2001, in terms of which designated officials of the Ministry of Information Technology, Government of India at the Software Technology Parks of India (STPIs) or at Free Trade Zones (FTZs) or Export Processing Zones (EPZs) or Special Economic Zones(SEZs), had been authorised to certify exports declared through SOFTEX Forms. 2. Considering the spurt in the volume of software exports from India in recent times, the complexity of work contracts involved, the voluminous nature of contract ag
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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 statement in excel format to Authorised Dealers for negotiation / collection / settlement, the third copy to the exporter and the last copy will be retained by STPI for its own record. Under the revised procedure, the exporters, however, will have to provide information about all the invoices including the ones lesser than US$25000, in the bulk statement in excel format. [The revised procedure for submission of the Softex form and other relevant documents are detailed in the Annex.] 4. The new procedure will be effective initially in STPI Bangalore, Hyderabad, Chennai, Pune and Mumbai with effect from April 01, 2012. Based on the success in these centers, it would be adopted by all the STPIs and SEZ/ EPZ/ 100% EOU/ EHTP/ DTA units by June 2012. 5. Authorised Dealers may bring the contents of this circular to the notice of th
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s are exhausted, the exporter can apply again to RBI for allotment of number. Exporters can use the allocated Softex number either for each invoice or for a group of invoices with same currency of a particular customer. Softex number would be the control number for identifying any of the export transaction. E. Details of information – As per the template in Annexure A, which will broadly cover information as under Name and Address of the Exporter Letter of permission number and date 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
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py Submission – Software Exports Declaration in summary excel sheet with above details. G. Hard copy submission – Covering letter along with summary sheet declarations and Annexure copies in quadruplicate. Copies of Softex forms, Invoices, SoW, MSA or any other document are not required to be submitted along with summary. H. Additional Information – At the request of STPI, software exporter need to submit additional details about selected sample invoices within 30 days of the request or any reasonable extended time at the discretion of the Director , STPI at the request from the exporter. I. Time Period for additional Information – STPI would do sample audit periodically but not during the period beyond six months, to make the records concurrent with the filing of the Softex. This however, doesn t stop the regulator from asking old records as per FEMA. J. STPI will send the attested Bulk Softex statement in hardcopy to software exporter and soft copy to RBI, Reg
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ormation 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 Attachment A. Inward remittance in India from overseas bank accounts Name and address of the Authorized Dealer at which the amount has been received Inward remittance details like FIRC number, date, amount and foreign currency Name and address of the Overseas bank from which remittance has been effected Direct Inward remittance in India from customers against exports of software Name and address of the Authorized Dealer at which the amount has been received I
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