Export of Goods and Services - Simplification of Softex Procedure
AS per Foreign Exchange Management (Export of Goods and Services) Regulations, 2000, 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 authorized to certify exports declared through SOFTEX Forms.
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 agreements and the duration involved in execution of each contract as well as the time-consuming process involved in the certification of SOFTEX forms, simplified and revised Softex procedure was introduced initially at Bangalore, Hyderabad, Chennai, Pune and Mumbai with effect from April 01, 2012.
Now, this procedure is extended to all STPIs in India with immediate effect.
RBI AP (DIR Series) Circular No. 47, Dated: October 23 2012