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Welcome to SOFTEX Welcome to SOFTEX procedureprocedure

(As on 05(As on 05thth November 2015) November 2015)

EXIM Services Group (ESG), EXIM Services Group (ESG), Hyderabad Hyderabad

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ContentsContents1)1) Circular --------------------------------------------------------- Circular --------------------------------------------------------- Slide No.3Slide No.3

2)2) Highlights of current procedure ----------------------- Highlights of current procedure ----------------------- Slide No.6Slide No.6

3)3) Softex form Softex form ((Annexure-IAnnexure-I) ) --------------------------------- --------------------------------- Slide Slide No.7No.7

4)4) Guide Lines to Fill the Softex Form------------------- Guide Lines to Fill the Softex Form------------------- Slide No.9Slide No.9

5)5) Country & Currency Codes ----------------------------- Country & Currency Codes ----------------------------- Slide No.14Slide No.14

6)6) Sample Check & Verification of softex -------------- Sample Check & Verification of softex -------------- Slide No.16Slide No.16

7)7) Softex filling formats URL link details---------------- Softex filling formats URL link details---------------- Slide No.17Slide No.17

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Circular Circular RBI has issued vide circular no: RBI/2015-16/231 RBI has issued vide circular no: RBI/2015-16/231 A.P. (DIR series) Cir. No.27 dated 05A.P. (DIR series) Cir. No.27 dated 05thth November November 2015 regarding Software Export filing of bulk 2015 regarding Software Export filing of bulk SOFTEX further liberalization consequent to previous SOFTEX further liberalization consequent to previous circulars A.P. (DIR Series) Circular No. 80 dated circulars A.P. (DIR Series) Circular No. 80 dated February 15, 2012, A.P. (DIR Series) Circular No. 66 February 15, 2012, A.P. (DIR Series) Circular No. 66 dated January 01, 2013 and A.P. (DIR Series) dated January 01, 2013 and A.P. (DIR Series) Circular No. 43 dated September 13, 2013.Circular No. 43 dated September 13, 2013.RBI has announced the date of revised procedure RBI has announced the date of revised procedure implementation of SOFTEX forms and its rules from implementation of SOFTEX forms and its rules from 0505thth November 2015. November 2015.

RBI circular

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RESERVE BANK OF INDIA Mumbai - 400 001

RBI/2015-16/231A.P. (DIR Series) Circular No.27 November 05, 2015ToAll Authorised Dealer Category – I BanksMadam / Sir,Software Export–Filing of bulk SOFTEX-further liberalisation

Attention of Authorised Dealers is invited to A.P. (DIR Series) Circular No. 80 dated February 15, 2012, A.P. (DIR Series) Circular No. 66 dated January 01, 2013 and A.P. (DIR Series) Circular No. 43 dated September 13, 2013, in terms of which 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.

2. 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. The SOFTEX form is given at Annex I. Since the SOFTEX data from STPI/SEZ is being transmitted in electronic format to RBI, the exporters are required to submit the SOFTEX form in duplicate as per the revised procedure. STPI/SEZ will retain one copy and handover the duplicate copy to the exporters after due certification.

3. 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. In order to generate the SOFTEX number/s, the applicant exporter has to fill-in the online form (Path www.rbi.org.in→Forms → Foreign Exchange Management Act Forms →Printing (EDF/Softex form no.). The specimen of the online form and the advice are given at Annex II.

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4. 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.

5. Authorised Dealers may bring the contents of this circular to the notice of their constituents concerned. The above instructions will come into force with immediate effect.

6. The directions contained in this circular have been issued under section10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully,(A K Pandey)

Chief General Manager

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Highlights of current procedure Highlights of current procedure

Exporters can use the allocated Softex number either for each invoice or Exporters can use the allocated Softex number either for each invoice or for a group of invoices with same currency of a particular customer.for a group of invoices with same currency of a particular customer.

((Kindly refer D of Annexure of RBI Circular No. 80 dated 15Kindly refer D of Annexure of RBI Circular No. 80 dated 15thth Feb 2012 Feb 2012).). Exporter will have to declare all the export transactions, including those Exporter will have to declare all the export transactions, including those less than US$25000. less than US$25000. (Kindly refer point no.3 of RBI Circular no.43 dated 13(Kindly refer point no.3 of RBI Circular no.43 dated 13 ththSept Sept 2013)2013)RBI shall provides softex numbers through its website www.rbi.org.in. RBI shall provides softex numbers through its website www.rbi.org.in. →Forms → →Forms → Foreign Exchange Management Act FormsForeign Exchange Management Act Forms →Printing →Printing (EDF/Softex form no.) The specimen of online form and the advice are (EDF/Softex form no.) The specimen of online form and the advice are given in Annex III. given in Annex III. (Kindly refer point no.4 of RBI Circular no. 43 dated 13th Sept (Kindly refer point no.4 of RBI Circular no. 43 dated 13th Sept 2013)2013)

Revised softex form is common form to declare single as well as bulk Revised softex form is common form to declare single as well as bulk software exports. software exports. (Kindly refer point no.2 of RBI Circular no.43 dated 13th Sept (Kindly refer point no.2 of RBI Circular no.43 dated 13th Sept 2013)2013)

Since the SOFTEX data from STPI is being transmitted in electronic Since the SOFTEX data from STPI is being transmitted in electronic format to RBI, the exporters are required to submit the SOFTEX form in format to RBI, the exporters are required to submit the SOFTEX form in duplicate as per the revised procedure w.e.f 05th Nov 2015. duplicate as per the revised procedure w.e.f 05th Nov 2015.

((Kindly refer point no.2 & 5 of RBI Circular no.27 dated 05th Nov 2015Kindly refer point no.2 & 5 of RBI Circular no.27 dated 05th Nov 2015).).

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Format of Softex Forms Summary Sheet

Section - AName and address of Exporter   IEC Code.  Letter of Permission (LOP) No.(STP/EHTP/SEZ/EPZ/100% EOU/DTA Unit)

  Date of LOP issued

 

Name of Authorised Datacom Service Provider   STPI/SEZ Centre  Name and address of Authorised Dealer/Bank   Authorized

Dealer Code  

Section - BList of Invoices for offshore export value through datacom link

Period of Invoices raised from _____________ to _____________ Sr. No.

Softex No.

Name of the Client

Address of the Client

Country

Internal project code/Contract/ Agreement No & date

Type of S/W Exported

Mode of realisation

Invoice Number

Invoice Date (DD/MM/YY)

Currency

Analysis of Export Value

Value of software Export

(A)

Transmission Charge (B)

Commission

( C)

Deduction (D)

Net Realisable

value [ (A+B

)-(C+D)]

                         

Annexure-I

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SECTION - C  

DECLARATION BY EXPORTER  

I /We@ hereby declare that I/we@ am/are@ the seller of the software in respect of which this declaration is made and that the particulars given above are true and that the value to be received from the buyer represents the export value contracted and declared above. I/We@ also declare that the software has been developed and exported by using Authorised and legitimate datacom link and certified that the software described above was actually transmitted. I/We @ undertake that I/we@ will deliver to the Authorised dealer bank named above the foreign exchange representing the full value of the software exported as above on or before........................ (i.e. within the period of realisation stipulated by RBI from time to time ) in the manner specified in the Regulations made under the Foreign Exchange Management Act, 1999.

I/We @ am/are not in the Caution List of the Reserve Bank of India.

 

Place: Date:Name : Designation:

Stamp (Signature of the Exporter)

 

Space for use of the competent authority in STPI/EPZ/SEZ

Certified, on the basis of above declaration by the SEZ/STPI unit, that the software described above and the export value declared by the exporter in this form is as per the corresponding invoice/gist of invoices submitted and declared by the Unit.

Date:Name : Designation: Stamp

( Signature of the Designated/Authorised Official of STPI/EPZ/SEZ )

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Guide Lines to Fill theGuide Lines to Fill the Softex FormSoftex Form

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Softex numberSoftex number : Softex number allocated by RBI itself : Softex number allocated by RBI itself ((Path www.rbi.org.in→Forms → Path www.rbi.org.in→Forms → Foreign Exchange Management Act Foreign Exchange Management Act

FormsForms →Printing (EDF/Softex form no →Printing (EDF/Softex form no.) .)

Name*IE Code*Address*Telephone No.*Email*Fax

Type of Export*Drop down option1 [ ] Goods2 [ ] Software

Mode of Export*Drop down option ( if type of export is Goods)1. [ ] Post Parcel/Couriers 2. [ ] Others

Form No*.Drop down option( if type of export is Software)1.[] Single2.[] Bulk

Numbers of Form Maximum 50 forms Nos. ( in case of bulk option is selected)* Mandatory

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Name, Address & Country of ClientName, Address & Country of Client : :

It should match with your business proof It should match with your business proof document (Agreement/SOW / Workorder / document (Agreement/SOW / Workorder / PO / Job order) PO / Job order)

Internal project code/Contract/ Agreement Internal project code/Contract/ Agreement No & date:No & date:

As per Business proof documentAs per Business proof document

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Type of software exportedType of software exported

(a) Computer Software (a) Computer Software RBI Code RBI Code Data Entry job and Conversion Data Entry job and Conversion Software Data Processing Software Data Processing 906906Software Development Software Development 907907Software Product , PackagesSoftware Product , Packages 908908Other (Please specify)……….Other (Please specify)………. 909909

(b) Other Software (b) Other Software Video /TV Software Video /TV Software 910910

Others/( Please specify) ……..Others/( Please specify) …….. 911911

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Mode of RealisationMode of Realisation : How export value will : How export value will realise.realise.

Types of Realisation :Types of Realisation :1.1. Under L/CUnder L/C : Letter of Credit is a letter issued by a buyers bank to : Letter of Credit is a letter issued by a buyers bank to

another sellers bank (especially one in a different country) to serve as another sellers bank (especially one in a different country) to serve as a guarantee for payments made to a specified person under specified a guarantee for payments made to a specified person under specified conditions.conditions.

2.2. Bank guaranteeBank guarantee : A bank guarantee is a surety or a guarantee issued by the : A bank guarantee is a surety or a guarantee issued by the

bank on behalf of its customer for the benefit of foreign beneficiarybank on behalf of its customer for the benefit of foreign beneficiary..3.3. OthersOthers : EEFC Account : EEFC Account

Exchange Earners' Foreign Currency Account (EEFC) is an account Exchange Earners' Foreign Currency Account (EEFC) is an account maintained in foreign currency with an Authorised Dealer.maintained in foreign currency with an Authorised Dealer.

Invoice number & DateInvoice number & Date : Please follow : Please follow procedure of your organization.procedure of your organization.

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Country & Currency Codes:

Kindly mention the “alphabetic codes” only in the softex forms.

Below provided URL links

Country Codes for the Softex (www.hyd.stpi.in/downloads/Country_Codes.xls)

Currency Codes for the Softex (www.hyd.stpi.in/downloads/Currency_Codes.xls)

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Analysis of Export Value :

A- Value of Software ExportB-Transmission Charges C- Commission D- Deduction STPI will certify the Net Realisable value i.e. ((A+B)-(C+D))

Section C Declaration:

It should be signed by the Authorised Person.

Sample Check & Verification of Softex submission Softex submission

1.1. Two Sets of softex form (Original and Duplicate) as per RBI format need to Submit.Two Sets of softex form (Original and Duplicate) as per RBI format need to Submit.

2.2. Invoice details need to be mentioned in Invoice details need to be mentioned in Section B of softex formSection B of softex form. One copy of invoices . One copy of invoices are required for sample check. Should be attested by Authorized signatory. are required for sample check. Should be attested by Authorized signatory.

3.3. Agreement/P.O/Work order details need to mentioned in Agreement/P.O/Work order details need to mentioned in Section B of softex formSection B of softex form. One . One copy of business proof document required for sample check. Should be attested by copy of business proof document required for sample check. Should be attested by Authorized signatory.Authorized signatory.

4.4. Exporter has to provide details of datacom link in Exporter has to provide details of datacom link in Section A of Softex formSection A of Softex form. Hard copy . Hard copy required for sample check. Should be attested by Authorized signatory.required for sample check. Should be attested by Authorized signatory.

5.5. Hard copy of Softex Numbers allotted by RBI has to submit.Hard copy of Softex Numbers allotted by RBI has to submit.

6.6. Soft copy of Softex form in spreadsheet (excel) has to send through e-mail by Authorized Soft copy of Softex form in spreadsheet (excel) has to send through e-mail by Authorized signatory to STPI e-mail account signatory to STPI e-mail account hyd.softex@stpi.in.

Note Note :: Exporter will have to declare all the export transactions, including those less than Exporter will have to declare all the export transactions, including those less than US$25000.US$25000.

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Softex filling formats URL link details

Softex check list URL link http://www.hyd.stpi.in/downloads/softex_chklst.doc

Request Letter/Covering Letter in Prescribed format URL link http://www.hyd.stpi.in/downloads/softex_cvr.doc

Softex Summary sheet (Or Annexure-II) URL link http://www.hyd.stpi.in/downloads/softex.xls

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For more information kindly contacts us :For more information kindly contacts us :

SOFTEX TEAM : 040 6641 5600/5611SOFTEX TEAM : 040 6641 5600/5611

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