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
- Update internal procedures to accept revised Softex statements in excel format from eligible exporters in SEZs, EPZs, 100% EOUs, and DTAs.
- Verify exporter eligibility: annual turnover of at least Rs. 1000 crore or filing of 600+ SOFTEX forms annually on all-India basis.
- Inform all concerned constituents about the revised procedure and the applicable terms from A.P. (DIR Series) Circular No.80 dated February 15, 2012.
Who it affects
Category-I Authorized Dealer Banks, Software exporters in SEZs, EPZs, 100% EOUs, and DTAs, Exporters previously using STPI-based Softex procedure
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.