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Software Technology Parks of India ( STPI)

STPI Scheme

The 100% Export Oriented Unit scheme (STP scheme) is made for setting up of software development and IT Enabled Services (ITES) firm in India for 100% Export. A distinctive feature of this STP/EHTP scheme is that it provides single point contact services for member units, which enables them to conduct exports operations at a pace commensurate with global standards. The Directors of STPI administers this scheme.

Scheme Benefits & Highlights

Customs duty exemption on imports of capital equipments and the equipments can also be imported on loan or lease basis.
All relevant equipments/goods, including second hand equipment, can be imported (except the prohibited items)
Goods and Service Tax reimbursement on indigenous items procurement.
Green card enabling priority treatment for government clearances or other services.
Full Foreign Direct Investment (FDI) permissible through 'Automatic Route' of RBI.
Sales in the DTA (Domestic Tariff Area) up to certain limits of the foreign exchange earned by the STP/EHTP unit.

Periodic Compliance Services

Statutory Reports for STP Units

Monthly Progress Reports (MPR): All units are required to submit Monthly Progress Reports by the 7th of a month on completion of previous month, in the prescribed format. It is a mandatory requirement and units which are irregular in submitting MPRs can be denied services of STPI.
Annual Performance Reports (APR): Annual performance report should be submitted as per the prescribed format.

Statutory compliance for STP units

Accounts

Distinct Identity: If any industrial enterprise is operating simultaneously as a domestic unit as well as an EHTP/STP unit, it shall have two distinct identities with two separate accounts, including separate bank accounts. However it is not necessary for it to be a separate legal entity, but it should be possible to distinguish the imports and exports or supplies affected by the EHTP/STP units from those made by the other units of the enterprise.

Maintain the accounts as under:

Maintenance of Sales Invoices.
Maintenances of Fixed Asset Registers.
Maintenance of Foreign Inward Remittance Certificate file (FIRC) & Bank Realization Certificate (BRC) file in which the original of the FIRCs and BRCs are kept.
Maintenance of contract file, where the copies of contracts received from buyers are maintained.
Advisory Services for Assessments, Refunds, Appeals etc.

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