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Welcome to New Revised Softex procedure EXIM Division, Hyderabad.

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Presentation on theme: "Welcome to New Revised Softex procedure EXIM Division, Hyderabad."— Presentation transcript:

1 Welcome to New Revised Softex procedure EXIM Division, Hyderabad

2 Circular RBI has issued vide circular no: RBI/ /254 A.P. (DIR series) Cir. No.43 dated 13th September 2013 regarding the simplification of existing softex form used for declaration of Export of Software. RBI has announced the date of implementation of new softex form and its rules from 1st October RBI circular RBI circular RBI circular RBI circular

3 RESERVE BANK OF INDIA Foreign Exchange Department Central Office Mumbai RBI/ /254 A.P. (DIR Series) Circular No.43September 13, 2013 To All Authorised Dealers in Foreign Exchange Madam / Sir, Export of Goods and Services- Simplification and Revision of Declaration Form for Exports of Goods/Softwares Attention of the Authorised Dealers 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 and A.P. (DIR Series) Circular No. 80 dated February 15, 2012,in terms of which every exporter of goods or softwares has to give declaration in one of the forms (GR/PP/SDF/SOFTEX/Bulk SOFTEX) and submit it to the specified authority for certification. Notification No.FEM 23/2000-RB dated May 3, 2000 Notification No.FEMA 36/2001-RB date February 27, 2001 A.P. (DIR Series) Circular No. 80 dated February 15, In order to simplify the existing form used for declaration of exports of Goods/Softwares, a common form called “Export Declaration Form” (EDF) has been devised to declare all types of export of goods from Non-EDI ports and a common “SOFTEX Form” to declare single as well as bulk software exports. The EDF will replace the existing GR/PP form used for declaration of export of Goods. The procedure relating to the exports of goods through EDI ports will remain the same and SDF form will be applicable as hitherto. The EDF and SOFTEX form have been given in Annex I and Annex II respectively. 2.Under the revised procedure, the exporters will have to declare all the export transactions, including those less than US$25000, in the form as applicable. 3.Reserve Bank of India will be extending the facilities to exporters for online generation of SOFTEX Form No. (Single as well as Bulk) for use in Off-Site Software exports, in addition to EDF Form No. (Present web-based process of generation of GR Form No. gets replaced) through its website In order to generate the above number, the applicant has

4 generated for each transaction by the applicant exporter. The specimen of online form and the advice are given in Annex III. The present facility of manual allotment of single as well bulk SOFTEX form number by Regional Offices of RBI would be dispensed with accordingly. 1.The Foreign Exchange Management Act (FEMA) requires exporters to complete the EDF/SOFTEX Form using the number so allotted and submit them to the specified authority first for certification and then to AD for necessary action as hitherto. 2.The above instruction will come into force from October 1, Authorised Dealers may bring the contents of this circular to the notice of their constituents concerned. 3.The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the FEMA, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law. Yours faithfully, (C.D.Srinivasan) Chief General Manager

5 Highlights of new revised procedure Exporters can use the allocated Softex number either for each invoice or for a group of invoices with same currency of a particular customer. ( Kindly refer D of Annexure of RBI Circular No. 80 dated 15 th Feb 2012 ). Exporter will have to declare all the export transactions, including those less than US$ (Kindly refer point no.3 of RBI Circular no.43 dated 13 th Sept 2013) RBI shall provides softex numbers through its website →Forms →FEMA Forms →Printing (EDF/Softex form no.) The specimen of online form and the advice are given in Annex III. ( Kindly refer point no.4 of RBI Circular no. 43 dated 13th Sept 2013) Revised softex form is common form to declare single as well as bulk software exports. (Kindly refer point no.2 of RBI Circular no.43 dated 13th Sept 2013) New revised procedure effective from 1 st Oct ( Kindly refer point no.6 of RBI Circular no.43 dated 13th Sept 2013)

6 Revised Softex form Revised softex form for offsite software exports Revised softex form for offsite software exports ( Kindly refer Annexure-II of Circular no: 43 dated 13 th Sept 2013) Revised softex form for offsite software exports Revised softex form for Royalty Receipt Revised softex form for Royalty Receipt ( Kindly refer Annexure-II of Circular no: 43 dated 13 th Sept 2013) Revised softex form for Royalty Receipt

7 Format of Softex Forms Summary Sheet Section - A Name 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 - B List of Invoices for offshore export value through datacom link Period of Invoices raised from _____________ to _____________ Sr. No. Sr. No. So fte x No. Name of the Client Addr ess of the Clien t Cou ntry Internal project code/Cont ract/ Agreemen t No & date Typ e of S/W Exp orte d Mod e of reali satio n Invoic e Numb er Invoi ce Date (DD/ MM/Y Y) Curr ency Analysis of Export Value Valu e of soft ware Expo rt (A) Tran smis sion Char ge (B) Co mmi ssio n ( C) Dedu ction (D) Net Realis able value [ (A+B)- (C+D)]

8 SECTION - C DECLARATION BY EXPORTER I hereby declare that 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. 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. undertake that 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, 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 )

9 Guide Lines to Fill the Revised Softex Form Guide Lines to Fill the Revised Softex Form

10 Softex number : Softex number allocated by RBI itself (www.rbi.org.in. →Forms →FEMA Forms →Printing (EDF/Softex form no.) Name* IE Code* Address* Telephone No.* * Fax Type of Export* Drop down option 1 [ ] Goods 2 [ ] 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.[] Single 2.[] Bulk Numbers of FormMaximum 50 forms Nos. ( in case of bulk option is selected) * Mandatory

11 Name, Address & Country of Client : It should match with your business proof document (Agreement/SOW / Workorder / PO / Job order) Internal project code/Contract/ Agreement No & date: As per Business proof document

12 Type of software exported (a) Computer Software RBI Code Data Entry job and Conversion Software Data Processing 906 Software Development 907 Software Product, Packages 908 Other (Please specify)………. 909 (b) Other Software Video /TV Software 910 Others/( Please specify) …….. 911

13 Mode of Realisation : How export value will realise. Types of Realisation : 1. Under L/C : Letter of Credit is a letter issued by a buyers bank to another sellers bank (especially one in a different country) to serve as a guarantee for payments made to a specified person under specified conditions. 2. Bank guarantee : A bank guarantee is a surety or a guarantee issued by the bank on behalf of its customer for the benefit of foreign beneficiary. 3. Others : EEFC Account Exchange Earners' Foreign Currency Account (EEFC) is an account maintained in foreign currency with an Authorised Dealer. Invoice number & Date : Please follow procedure of your organization. Invoice number & Date : Please follow procedure of your organization.

14 Country & Currency : Kindly mentioned the code only. CURRENCY_SWIFTCODECURRENCYNAMERBI NUMERIC CURRENCY CODE ACD ACU Dollar725 ACUAMU706 AEDUAE Dirham419 AFAAfghani001 ALLAlbanian Lek003 AONAngola Kwanza024 ARSArgentine Peso015 ATSAustrian Schilling019 AUDAustralian Dollar017 BBDBarbados Dollar029 BDTBangladesh Taka027 BEFBelgian Franc033 BGLBulgarian Lev049 BHDBahraini Dinar025 BIFBurundi Franc053 BMDBermudian Dollar037 BNDBrunei Dollar047 BOBBolivian Boliviano039 BRLBrazilian Real043 BSDBahamian Dollar023 BWPBotswanian Pula041 BYBBelarus Rouble055

15 BZDBelize Dollar031 CADCanadian Dollar059 CHFSwiss Franc389 CLPChilean Peso073 CNYYuan Renminbi077 COPColombian Peso083 CRCCosta Rican Colon091 CUPCuban Peso093 CYPCyprus Pound095 CZKCZECH KORUNA098 DEMDeutsche Mark147 DJFDjibouti Franc102 DKKDanish Kroner101 DOPDominican Peso103 DZDAlgerian Dinar005 ECSEcuador Sucre109 EGPEgyptian Pound111 ESPSpanish Peseta367 ETBEthiopian Birr115 EUREuro (European Union)500 FIMFinnish Markka125 FJDFiji Dollar127 FKPFalkland Islands Pound123 FRFFrench Franc129 GBPPound Sterling421 GHCGhana Cedi149 GIPGibraltar Pound151 GMDGambian Dalasi143 GNFGuinea Franc167 CURRENCY_SWIFTCODECURRENCYNAME RBI NUMERIC CURRENCY CODE

16 GRDGreek Drachma155 GTQGuatemala Quetzal165 GYDGuyana Dollar171 HKDHong Kong Dollars179 HNLHonduras Lempira177 HRKCroatia Kuna092 HTGHaiti Gourde175 HUFHungarian Forint181 IDRIndonesian Rupiah187 IEPIrish Pound193 ILSIsraeli New Shekel195 INRIndian Rupee188 IQDIraqi Dinar191 IRRIranian Rial189 ISKIceland Krona185 ITLItalian Lira197 JMDJamaican Dollar203 JODJordanian Dinar207 JPYJapanese Yen205 KESKenyan Shilling213 KHRCambodian Rial211 KMFComoros Franc057 KPWNorth Korean Won215 KRWSouth Korean Won217 KWDKuwaiti Dinar219 KZTKazakstan Tenge212 LAKLao New Kip223 LBPLebanese Pound225 LKRSri Lankan Rupee369 LRDLiberian Dollar229 LSLLesotho Maloti227 LTLLithuanian Litas234 CURRENCY_SWIFTCODECURRENCYNAME RBI NUMERIC CURRENCY CODE

17 LUFLuxembourg Franc235 LYDLibyan Dinar231 MADMoroccan Dirham265 MGFMadagascar Franc241 MMKMyanmar Kyat258 MNTMongolian Tugrik261 MROMauritanian Ouguiya255 MTLMaltese Lira251 MURMauritius Rupee257 MVRMaldivian Rufiyaa247 MWKMalawian Kwacha243 MXNMexican Peso259 MYRMalaysian Ringgit245 NGNNigerian Naira291 NIONicaraguan Gold Cordoba287 NLGNetherlands Guilder275 NOKNorwegian Krone297 NPRNepalese Rupee273 NZDNew Zealand Dollar285 OMROmani Rial301 PABPanaman Balboa311 PENPeruvian New Sol319 PHPPhilippinian Peso323 PKRPakistani Rupee309 PLNPolish Zloty325 PTEPortuguese Escudo327 PYGParaguay Guarani317 QARQatari Rial335 ROLRomanian Leu343 RONROMANIAN NEW L343 RUBRUSSIAN ROUBLE344 RWFRwanda Franc345 CURRENCY_SWIFTCODECURRENCYNAME RBI NUMERIC CURRENCY CODE

18 SARSaudi Rial351 SCRSeychelles Rupee355 SDDSudanese Dinar381 SEKSwedish Krona387 SGDSingapore Dollar359 SHPSt. Helena Pound371 SLLLeone357 SOSSomali Shilling363 SRGSuriname Guilder383 SVCEl Salvador Colon113 SYPSyrian Pound391 SZLSwaziland Lilangeni385 THBThai Baht397 TNDTunisian Dinar407 TOPTonga Parangas403 TRLTurkish Lira409 TTDTrinidad and Tobago Dollar405 TWDTaiwan Dollar075 TZSTanzanian Shilling395 UAHUkrainian Hryvnia422 UGXUganda Shilling417 USDUnited States Dollar423 UYUURUGUAYAN PESO427 UZSUzbekistan Sum430 VEBVenezuelan Bolivar433 VNDVietnam Dong437 WSTTala447 XAFCFA Franc067 XCDEast Carbbi379 XEUEuropean Currency Unit707 XOFWest African CFA Franc035 YERYemeni Rial453 ZARsouth African Rand365 ZMKZambian Kwacha461 ZRN Congo Democratic Republic Zaire Congelese Franc459 ZWDZimbabwe Dollar463 CURRENCY_SWIFTCODECURRENCYNAME RBI NUMERIC CURRENCY CODE

19 Analysis of Export Value : A- Value of Software Export B-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.

20 Differences between new & old softex procedure Old Softex Revised Softex 1. Three Sets of Softex application forms need to be submit (Original/Duplicate and Triplicate). 2. Invoices in Triplicate which are duly signed by Authorized person need to be submit along with Softex Form. 3. P.O/Agreement/Work order as per checklist need to be submit. 4. No Soft copy of Softex form required for certification. 5. Softex Numbers can be allotted by STPI/ by the Unit as allotted by RBI. Softex number for each Softex form. 6. Exporter need not declare the export transactions less than US$ Four Sets of new softex form as per RBI format need to be Submit (Original/Duplicate/Triplicate and Quadruplicate). (Original/Duplicate/Triplicate and Quadruplicate). 2. Invoice details need to be mention in Section B of Softex form. 3. Agreement/P.O/Work order details need to mention in Section B of softex form. 4. Soft copy of Softex form forward to STPI () Along with Hardcopy. 4. Soft copy of Softex form forward to STPI ( ) Along with Hardcopy. 5. Softex Numbers allotted by RBI through online only. 6. Exporter will have to declare all the export transactions, including those less than US$25000.

21 Sample Check & Verification Old Softex Revised Softex 1. Three Sets of Softex Application forms Need to be submit (Original/Duplicate and Triplicate). 2. Invoices in Triplicate which are duly signed by Authorized person need to be submit along with Softex Form. 3. P.O/Agreement/Work order as per checklist need to be submit. 4. No Soft copy of Softex form required for certification. 5. Exporter need to submit Data Communication link proof. 6. Softex Numbers can be allotted by STPI/ by the Unit as allotted by RBI. Softex number for each Softex form. 7. Exporter need not declare the export transactions less than US$ Four Sets of new softex form as per RBI format need to Submit (Original/Duplicate/Triplicate and Quadruplicate). (Original/Duplicate/Triplicate and Quadruplicate). 2. Invoice details need to be mentioned in Section B. Invoices copies required for sample check. 3. Agreement/P.O/Work order details need to mentioned in Section B. One copy of business proof document to be taken for sample check. 4. Need Soft copy of Softex form along with Hardcopy. 5. Exporter provide details of datacom link in Section A of Softex form (Hard copy required for sample check). 6. Softex Numbers allotted by RBI only through online. 7. Exporter will have to declare all the export transactions, including those less than US$25000.

22 For more information kindly contacts us : Mr. B.Kiran Kumar, Dy.Director Mob: Mr. N S Siddaiah, Jt.Director Mob:

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