Software Technology Park of India (STPI), an autonomous society under the Ministry of Communication and Information Technology, Dept. of Electronics and Information Technology, Govt. of India has been set up with a distinct focus to boost up Software export from the country. STPI is constantly working with an objective to implement STP/EHTP scheme formulated by Govt. of India, to set up and manage infrastructural facilities.
WHY NON STPI IS REQUIRED? WHAT IS THE RATIONAL BEYOND SOFTEX FORM?
When physical goods are exported, they pass through the Customs Office. Whereas when the Software is exported, it goes through media or internet (data communication links). So, in order to track the export of software, Reserve Bank of India (RBI) announced the issue and submission of SOFTEX forms. STPI is the administrative authority for software export valuation and certification of SOFTEX form, in place of Customs. As per RBI circular dated 13th September 2013, the exporters of software will have to declare all the export transactions in SOFTEX, including those less than US$25000. This means, all companies exporting software, irrespective of the value, have to register as Non STPI unit, file SOFTEX forms.
WHAT IS STP AND WHAT ARE THE ADVANTAGES OF BECOMING A STP UNIT?
The Software Technology Park (STP) scheme is a 100% export-oriented scheme for the development and export of computer software using data communication links or in the form of physical media including the export of professional services. The major attraction of this scheme is a single point contact service to the STP units. All the imports of Hardware & Software in the STP units are completely duty free. Import of second-hand capital goods is also permitted.