Thursday, February 11, 2010

Starting a software export company - Part V

This is the final blog in the series in which I was talking about the paths followed while registering a *new* export company in Jaipur, India.

Part I
Part II
Part III
Part IV

So now our final step of Custom Bonding is complete, and hence the company can be operational to raise invoices and do the trade.

As a final blog in this topic, here is a quick look at the paperwork:

1. STPI registration process;
2.
Legal Agreement with STPI;
3.
Custom Bonding;

(Documents for Custom Bonding):

* Application for Custom Bonding.
* Copy of STPI Approval Letter
* Copy of Green Card issued by STPI
* List of proposed Plant & Machinery of Capital Goods attested by STPI.
* Agreement with STPI for Export Commitment.
* Process of Manufacture (Software Development Process).
* Supplementary Terms and Conditions, duly accepted by us on Rs. 100/- Stamp Paper to be notarise.
* Solvency Certificate.
* B – 17 Bond on Rs. 100/- Stamp Paper to be notarise.
* Affidavit on Rs. 100/- Stamp Paper to be notarise.
* Bank Guarantee.
* Declaration for Custom.
* Memorandum and Articles of Association.
* Lease Agreement of Premises or Ownership supporting details.
* Ground Plan of Premises.
* Copy of Importer Exporter Code No.
* Copy of Permanent Account No. (PAN No.).

Email me (zeeshan @ retinasoft.net) for any help/suggestions.

4 comments:

Sarang said...

Thanks for these useful series of blogs. In a proprietorship, as an individual, do you have to pay any income tax at all if the income is solely from this software export business? Also, any idea if the tax holiday is extended in the current budget to 2010-11? Thanks.

Zeeshan Alam said...

As far as my CA says 'no'. You will have to get registered in Sales Tax and VAT too, even though you will give zero such taxes.

I will update more once we file our returns of this year. The auditing need to be done for cash flow over 40lac.

The STPI scheme is valid till March 2011. I am hoping the scheme will be extended few more years, as on the other hand government has been increasing MAT. A way to take money out from software company. :-)

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