The valuation of exports declared on SOFTEX form will be done by the
designated official/s of the Department of Electronics (DOE) at the
Software Technology Parks of India (STPI). The SOFTEX Form of exporters
located outside STPI as also forms in respect of export of video/TV
software will also be certified by designated official/s at the nearest
STPI. DOE have made necessary arrangement for certification/valuation
of the Video/TV software declared on SOFTEX form with the Ministry of
Information and Broadcasting, Government of India, once in a week at
the STPI. The valuation of exports declared on SOFTEX Form by Units
located in Export Processing Zones will be done by the designated authority
of the Export Processing Zone.
6D.3 Disposal of SOFTEX forms
(i) After certifying all the three copies of the SOFTEX
form, the designated officials of Government of India at STPI and designated
authorities of Export Processing Zones will forward the original directly
to the nearest office of the Exchange Control Department of Reserve
Bank the day it is received or the next day and return the duplicate
to the exporter. The triplicate will be retained by the Department of
Electronics for their record.
(ii) Within 21 days form the date of certification of
the SOFTEX form, the exporter should submit the duplicate copy together
with a copy of each of the supporting documents to the authorised dealer
for negotiation/collection. The duplicate copy of the form together
with documents will be retained by the authorised dealer till full export
value declared on the form or as certified by the designated officials
at STPI, whichever is higher has been realised and repatriated to India
and thereafter will be submitted to the Reserve Bank duly certified
under cover of an appropriate R Return along with a copy/ies of invoice/s.
(iii) After the documents have been negotiated/sent for
collection, authorised dealers should report the transaction to Reserve
Bank in a fortnightly statement in form ENC under the cover of appropriate
R Return. Entries in the ENC statement should be made in chronological
order of the transactions as recorded in the internal register (Export
Bills Register) of the authorised dealer.
6D.4 Terms of payment - Invoicing
(i) In respect of long duration contracts involving series
of transmissions, the exporter should bill their overseas clients periodically,
i.e. at least once a month, or on reaching the 'milestone' as provided
in the contract entered into with the overseas client and the last invoice/bill
should be raised not later than 15 days form the date of completion
of the contract. It would be in order for the exporters to submit a
combined SOFTEX form for all the invoices raised on a particular overseas
client, including advance remittances received in a month.
(ii) In respect of contracts involving only 'one shot
operation', the invoice/bill should be raised within 15 days from the
date of transmission.