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Revised Softex Procedure Extended to All SEZs/EPZs/EOUs/DTAs

Current · Source: Reserve Bank of India · RBI/2012-13/359 · issued 01 Jan 2013 · ~2 min read
Quick answerRBI extends the simplified Softex procedure to all SEZs, EPZs, 100% EOUs, and DTAs with immediate effect. Large software exporters with annual turnover of at least Rs. 1000 crore or filing 600+ SOFTEX forms annually can now submit statements in revised excel format.
The rule, in the simplest words
How it plays out — a real example

Priya, a forex & trade-finance officer in Indore, receives a new Excel-based Softex statement from a large software exporter in a nearby SEZ. She first checks the company's annual turnover—it's over Rs. 1200 crore—so she knows they are eligible. She then updates her bank's internal system to accept the new format, making the process smoother for the exporter.

What changed

The revised Softex procedure, previously applicable only to STPIs, is now extended to all SEZs, EPZs, 100% EOUs, and DTAs. Eligible exporters are those with annual turnover of at least Rs. 1000 crore or those filing at least 600 SOFTEX forms annually on an all-India basis. They must submit statements in the revised excel format as per Annexures A and B.

What it means for you

Banks handling export documents for software firms in these zones must update their processes to accept the new excel-based statements from eligible exporters. This simplifies compliance for large exporters but requires banks to verify eligibility criteria (turnover or form count) before accepting the revised format. Other terms from the earlier circular remain unchanged.

What you must do

Who it affects

Category-I Authorized Dealer Banks, Software exporters in SEZs, EPZs, 100% EOUs, and DTAs, Exporters previously using STPI-based Softex procedure

❓ Common questions

Who is eligible for the revised Softex procedure under this circular?

Software exporters in SEZs, EPZs, 100% EOUs, or DTAs with annual turnover of at least Rs. 1000 crore or those filing at least 600 SOFTEX forms annually on an all-India basis.

What format should eligible exporters use for Softex statements?

They must submit statements in the revised excel format as per Annexures A and B attached to the circular, replacing the earlier paper-based procedure.

Does this circular change any other terms from the earlier STPI circular?

No, all other terms and conditions from A.P. (DIR Series) Circular No.80 dated February 15, 2012 remain unchanged for all exporters.

📜 Read the original circular — full text as issued by RBI
RBI/2012-13/359 A.P. (DIR Series) Circular No. 66 January 1, 2013 To All Category - I Authorized Dealer Banks Madam / Sir, Export of Goods and Services – Simplification and Revision of Softex Procedure at SEZs Attention of the Authorised Dealer Banks is invited to 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, as amended by the Notification No.FEMA.36/2001-RB dated February 27, 2001 , in terms of which 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. 2. A revised Softex procedure was first introduced at the 5 designated centres of STPIs from April 1, 2012 vide A.P. (DIR Series) Circular No.80 dated February 15, 2012 and subsequently extended to all STPIs in India vide A.P. (DIR Series) Circular No.47 dated October 23, 2012 . 3. It has now been decided to implement the revised Softex procedure at all SEZs/EPZs/100%EOU/DTA also with immediate effect. 4. 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 enclosed Annexures A & B . All other terms and conditions mentioned in the A.P. (DIR Series) Circular No.80 dated February 15, 2012 applicable to exporters of software situated in STPIs would remain unchanged. 5. Authorised Dealers may bring the contents of this circular to the notice of their constituents concerned. 6. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law. Yours faithfully, (Rashmi Fauzdar) Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/359 · issued 01 Jan 2013. The plain-English explanation above is BankPulse’s own independent summary.
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Worked example & action-note template

Example: if you are a Compliance officer at a bank this circular applies to (Category-I Authorized Dealer Banks, Software exporters in SEZs, EPZs, 100% EOUs, and DTAs, Exporters previously using STPI-based Softex procedure), your first concrete step on “Revised Softex Procedure Extended to All SEZs/EPZs/EOUs/DTAs” is: “Update internal procedures to accept revised Softex statements in excel format from eligible exporters in SEZs, EPZs, 100% EOUs, and DTAs.” (RBI issued this 01 Jan 2013).

  1. Circular: RBI/2012-13/359 -- Revised Softex Procedure Extended to All SEZs/EPZs/EOUs/DTAs
  2. Issued: 01 Jan 2013
  3. Action required: Update internal procedures to accept revised Softex statements in excel format from eligible exporters in SEZs, EPZs, 100% EOUs, and DTAs.
  4. Action required: Verify exporter eligibility: annual turnover of at least Rs. 1000 crore or filing of 600+ SOFTEX forms annually on all-India basis.
  5. Action required: Inform all concerned constituents about the revised procedure and the applicable terms from A.P. (DIR Series) Circular No.80 dated February 15, 2012.
  6. Owner: ____________ Target date: ____________
  7. Board/committee approval needed? Y / N
  8. Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.

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Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=7786&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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