STPI Registration Service
- India's Software Technology Parks have been formed as a distinct and autonomous body. The Ministry of Electronics and Information Technology is in charge of this society (MeitY).The government of India established such a society in order to enhance the amount of domestic software production and export within the country. The STPI headquarters are in Delhi, and the organisation operates in 59 locations around India.
- Software Technology Parks in India (STPI) is a particular set up by the Electronics and Information Technology Ministry which is brought into force with the primary aim of encouraging and promoting Software exports from India. STPI is the administrative authority for software export valuation and certification of SOFTEX form in custom’s place.
- CA Rajput helps the individuals in obtaining new registration and filing of the SOFTEX form. It is an export-oriented scheme which is mainly for the development and export of computer software through data communication links.
- The Hardware and Software inputs are completely free under STPI. For anyone who is looking for having an export-oriented unit then it is simply important for you to get STPI registration. Any Indian company, the branch office of a Foreign country, or a subsidiary of a Foreign company share eligibility of becoming an STPI unit.
- Providers of STPI Registration services in New Delhi will guide you through the submission of application in the prescribed format for the lawful establishment of the STP unit for rightfully being part of Software Technology Parks in India.
- The documents required for STPI Registration in India are Memorandum of Association, Article of Association, details about the board members and the directors, Submission of resumes of directors along with necessary details like aims and projects, a defined list of countries and products required for STPI procurement.
Objectives of Software Technology Parks in India
- The primary goal of STPI has been to promote software exports from the country. STPI serves as a one-stop shop for software exporters, acting as a single point of contact. STPI has provided statutory services, data communications services, incubation facilities, training, and value-added services to the software exporting community.STPI has been a primary driver behind the promotion of software exports, with a special emphasis on SMEs and startup companies.
·Improve Amount of Data Communication Services
·Export & Promotion
·Increase quality of software & improve requirements of consumers
·Contributing to MSME
Advantages of Registering with India's Software Technology Parks
The following advantages can be obtained by registering with the SPTI:
- ·Green Card
- ·Import of Foreign Equipment
- ·Foreign Direct Investment
- ·No Import Duty or Customs
- ·No Form of Central Excise for Procurement of Goods
- ·Income Tax Relief
In this fast-paced world of electronics and information technology, the government launched the Software Technology Parks of India (STPI) initiative in RBI master circular no 2013-14/14 dated July 1, 2013. As a result, Software and IT-enabled Exporters must have their invoices certified using SOFTEX Forms. Entities must register under the STPI programme in order to do so.
What is a Non- STP Unit?
- It is possible to register as a STP or Non-STP unit. The below is a brief overview of STP unit registration and compliance.
- Any entity that is in the process of becoming an Export-Oriented Computer Software or Information Technology Enabled Service (if covered under the list below) is considered non-STP.
- It can apply for SOFTEX certification by registering as a Non-STP unit with STPI (Software Technology Parks of India). A corporation must register with STPI as a non-STP unit in order to become a non-STP unit.
- The entity wishing registration as a non-STP unit with STPI must submit an application to the jurisdictional Director, along with the relevant papers.
- The application will be supported by a pay order in the amount of the prescribed fee payable to the Director of STPI.
What kind of entities are eligible for registered as non-STP units?
The units listed below are eligible to be registered as STP units.
- One Person Company(OPC)
- Limited Liability Partnership
- Public Limited Companies
- Private Limited Companies
Note: Only such entities that are involved in the creation of Export Oriented Computer Software/IT Enabled Services can be registered as non-STP units.
Procedure for Non-STP Registration:
Non-STP registration in India is a long process that necessitates various compliances.
The Software Technology Park of India must receive an application for Non-STP registration in the prescribed format. Along with the application, legal documents such as the Memorandum of Association must be supplied. A Board Resolution authorising the establishment of the STP unit, officially signed by those with authority to submit the application form. The CEO's or the person in charge of the operation's resume The following are the elements of a detailed project:
- Company Profile.
- Promoters Background.
- proposed services to be offered & Areas of expertise.
- Arrangements and Marketing strategies.
- Future plans.
- Manpower plan.
- A detailed list of capital goods that have been planned for procurement, from India as well as abroad.
- Scan-copy Invoice issued by the Internet Service Provider
- Debonding the unit and Duty payments details
- Scan-copy Rent Agreement
- Foreign collaborator details
- A summarized write up on the parent company and the activities that have been proposed for being carried out by it.
- Certification of Export
- Taken permission from Finance Ministry for ECB borrowings.
Compliances for Non-STP Units:
The jurisdictional STPI Director will provide a Registration Certificate (also known as a Letter of Permission) to an entity that has registered as a Non-STP unit with the STPI for a duration of three years.
- Non-STP units that have been registered will be expected to submit quarterly and annual reports to its respective STPI offices.
- Softex Forms must be filed by registered non-STP units in accordance with RBI standards.
- The registered non-STP entity must pay service charges based on the value of the exported contracts.
- If the forms are required to be returned due to non-certification of the Softex forms, the non-STP unit will be required to keep 20% of the service charges submitted.
- If a non-STP unit surpasses the limit of a Softex certified slab for a financial year, the unit will be required to deposit the charges for the next slab by adjusting the amount already paid.
Renewal of Letter of Permission:
- STPI's Letter of Permission (LoP) has a 3 validity period. If a non-STP unit wishes to renew its LoP, they must contact the Director of the STPI. The application for renewal must be submitted within the last 3 months before the LoP's expiry date.
- Renewal of STPI's Letter of Permission shall be free of cost.
Non-STP Unit Services Charges:
The value of the registered contracts will determine the service costs implemented on a non-STP unit.
Filing deadline for Softex forms:
A non-STP unit must file a Softex Form within 30 days of the date of the last invoice raised in a given month.
Certification of Softex Forms getting procedure:
- Non-STP units must file a Softex Form for each of their export contracts. It is required that the unit register its export contract(s) before completing the Softex form. Non-STP units must also submit their project imports to the STPI in the next fiscal year. In addition, the necessary service costs must be supplied.
Cancellation of Softex Forms under the Following Situations:
When the raised invoice does not receive the desired remittance, the non-STP unit should contact the RBI and request that the certified Softex forms be cancelled. Some of these instances could include:
- foreign company cancellation of the complete project.
- credit note is Not raising
- foreign company raised Penalty.
STPI Consultancy in india
- Whether It is any large or small enterprise, every enterprise under the STPI scheme gets 10 years of tax exemption on the software exportation from India. If you are searching for the best STPI consultancy in New Delhi then CA Rajput is the perfect halt. We are well-qualified professionals which hold a tight grip over their treasure of knowledge about various corporate affairs and IT industry concerning the STPI rules and guidelines.
- The units are required to submit monthly reports and quarterly reports by the end of the 7th month in the prescribed format. Proper accounts are required to be maintained under STPI for t6he process to flow freely.
- Maintenance of accounts regarding sales invoices, fixed assets registers, maintenance of foreign Inward Remittance Certificate and Bank Realization Certificate, maintenance of contract file which are the copies received from the buyers are maintained, this whole process becomes hassle-free and less complicated with sided by a professional STPI consultancy in New Delhi.
- Under STPI one can relish several privileges like enabling Green card as an important treatment for government clearances, 100% depreciation on capital goods over a period of 5 years, and more. Gaining proper guidance through the best STPI consultancy in India is required for procuring STPI certification.
How to reach with us for STP Registration?
- Fill up the online form.
- Our professionals will call back to you.
- All queries can be addressed by our expert.
- Track & monitor the progress of your STPI Application.
- Secure Deliverables.