Software Export - Filing of bulk SOFTEX-further liberalization
A software exporter, whose annual turnover is at least Rs.1000 crore or who files at least 600 SOFTEX forms annually on an All India basis, is eligible to declare all the off-site software exports in bulk in the form of a statement in excel format, to the competent authority for certification on monthly basis.
In order to provide benefits to small exporters also, it has been decided to extend this facility to all software exporters. Accordingly, all software exporters can now file single as well as bulk SOFTEX form in excel format to the competent authority for certification.
As hitherto, the software exporters can generate SOFTEX form number (single as well as bulk) for use in off-site software exports from the website www.rbi.org.in.
The Foreign Exchange Management Act (FEMA), 1999 requires exporters to complete the SOFTEX form using the number so allotted and submit it first to the competent authority for certification and then to the AD for further necessary action, as hitherto.
AP (DIR Series) Circular No. 27/RBI., Dated: November 05, 2015