Format of Softex Forms submitted in bulk for royalty receipt

By | May 12, 2016
(Last Updated On: May 12, 2016)

Softex Forms submitted in bulk for royalty receipt

 As per RBI  A.P. (DIR Series) Circular No.68 [(1)/23(R)] Dated 12.05.2016

B.5 SOFTEX Forms (i) All software exporters shall file single / bulk SOFTEX form in the form of a statement in excel format to the competent authority for certification. Since the SOFTEX data from STPI/SEZ are being transmitted in electronic format to RBI, the exporters shall submit the SOFTEX form in duplicate as per the revised procedure. STPI/SEZ shall retain one copy and handover duplicate copy to exporters after due certification. As hitherto, the exporters shall provide information about all the invoices including the ones lesser than USD 25000, in the bulk statement in excel format.

(ii) A common SOFTEX Form (Annex-3) has been devised to declare single as well as bulk software exports.

(iii) Reserve Bank of India has extended the facility for online generation of the EDF Number and the SOFTEX Form Number (Single as well as Bulk for use in off-site software exports).

B.6 In all applications / correspondence with the Reserve Bank, the specific identification number as available on the EDF and SOFTEX forms should invariably be cited.

B.7 it is clarified that, in respect of export of services to which none of the Forms specified in these Regulations apply, the exporter may export such services without furnishing any declaration, but shall be liable to realise the amount of foreign exchange which becomes due or accrues on account of such export, and to repatriate the same to India in accordance with the provisions of the Act, and these Regulations, as also other rules and regulations made under the Act.

B.8 Realization of export proceeds in respect of export of goods / software from third party should be duly declared by the exporter in the appropriate declaration form.

Read Complete RBI Direction RBI  A.P. (DIR Series) Circular No.68 [(1)/23(R)] Dated 12.05.2016



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