Export of Goods and Services - Simplification and Revision of Softex Procedure at SEZs
AS per 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, designated officials of the Ministry of Information Technology/ Ministry of Commerce and Industry(as the case may be), 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.
A revised Softex procedure was first introduced at the 5 designated centres of STPIs from April 1, 2012 and subsequently extended to all STPIs in India.
RBI has now decided to implement the revised Softex procedure at all SEZs/EPZs/100%EOU/DTA also with immediate effect.
As per the revised procedure, a software exporter either under STPIs or SEZs/EPZs/100%EOU/DTA, whose annual turnover is at least Rs.1000 crore or who files at least 600 SOFTEX forms annually on all India basis, will be eligible to submit statements in revised excel format sheets as per Annexures A & B.
AP (DIR Series) Circular No.66/RBI, Dated: January 01, 2013