Software Techanology Parks STPs Do's and Dont Do's. STPS Do's and Don't Do'sDo'sThe development / production of the unit under the scheme shall be carried on in a customs bonded area. Starting of production within the gestation period allowed under the STP scheme and starting exports. Intimate STPI of the date of commencement of commercial production within 30 days. If commercial production and exports are not commenced within a period of 3 years from the issue of the letter of approval (LOP) given for the establishment of the unit under the Scheme, the Latter of Permission (LOP) Lapes automatically after the expiry of 3 years. The unit shall be a Net Foreign Exchange(NFE) earner and NFE should be positive over the period of 5 years.The unit shall realize the amounts due for the exports made within 180 days from the date of export, or the due date under the contract, whichever is earlier. On failure of exporters the STP unit will be liable to pay the customs duty and central excise duty on the goods procured and other penalties and liquidated damages as may be decided by the Government. External Commercial Borrowings(ECB) are resorted to, required permission from Ministry of finance. To maintain separate accounts for the operation under the STP scheme. Maintain prescribed records and document. Apply to STPI for clearance in the following cases: For any change of address, change of name or constitution of the unit. For extension of premises for carrying out the operation. For shifting of equipment from the bonded warehouse for repairs, temporary transfer, permanent transfer, inter unit transfer, disposal, etc. For exporting the imported equipment for repairs / replacement. For re-export of equipment imported on loan basis. For enhancing the limit of capital goods to be imported. For obtaining permission for sales in DTA. For debonding of the equipment / debonding of the unit. For reimbursement of CST. For sale of imported capital goods and materials. For disposal of obsolete equipment. For donation of obsolete equipment. Pay the dues to STPI on time. Submit the Quarterly / Annual performance reports in the prescribed form, on time. DONT's Please do not utilize uncovered equipment under duty free for any activity. Please do not carry on any operation not covered under the STP scheme in the customs bonded warehouse premises. Data circuit is meant exclusively for the purpose of transmission of data between two designated locations and sub-lease to any company or re-engineering to any other location is strictly prohibited. As per the Indian Telecommunications Act, Data circuit should not be used for voice purpose.
Get Sample Now Which service(s) are you interested in? Export Data Import Data Both Buyers Suppliers Both OR Exim Help + Exim News Date: 28-03-2024 Solar module duty sop under ALMM may not continue after March 31 Date: 28-03-2024 Wherehouse? Spice, dry fruit importers facing GST heat Date: 28-03-2024 Buy Adani Ports & Special Economic Zone, target price Rs 1,460: JM Financial Date: 27-03-2024 WhatsApp ends global companies' cheap-OTP run Date: 27-03-2024 Rise in investments will generate more jobs this decade: CEA Date: 27-03-2024 Forex reserves rise $32.9 billion in April-December Date: 27-03-2024 India initiates anti-dumping probe into import of aluminium foil from China Date: 22-03-2024 India's March business activity ends fiscal year on strong note Date: 22-03-2024 Oil broadly steady after surprise US crude stock drop Date: 22-03-2024 Oil broadly steady after surprise US crude stock drop What is New? Date: 26-03-2024 Notification No. 24/2024 - Customs (N.T.) Exchange Rate Notification No. 24/2024-Cus (NT) dated 26.03.2024-reg Date: 14-03-2024 NOTIFICATION No. 17/2024-Customs Seeks to amend notification No. 57/2017-Customs dated 30.06.2017 so as to modify BCD rates on certain smart wearable devices. Date: 12-03-2024 NOTIFICATION No. 15/2024-Customs Seeks to amend specific tariff items in Chapter 90 of the 1st schedule of Customs Tariff Act, 1975. Date: 12-03-2024 NOTIFICATION No. 16/2024-Customs Seeks to amend Notification No. 50/2017-Customs dated 30.06.2017 so as to change the applicable BCD rate on specified parts of medical X-ray machines. Date: 07-03-2024 Notification No. 18/2024 - Customs (N.T.) Exchange Rate Notification No. 18/2024-Cus (NT) dated 07.03.2024-reg Date: 06-03-2024 Notification No. 13/2024-Customs Seeks to amend notification No. 50/2017- Customs dated 30.06.2017, in order to reduce the BCD on imports of meat and edible offal, of ducks, frozen, subject to the prescribed conditions, with effect from 07.03.2024. Date: 06-03-2024 Notification No. 17/2024-CUSTOMS (N.T.) Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg Date: 29-02-2024 Notification No. 16/2024-CUSTOMS (N.T.) Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg Date: 21-02-2024 Notification No. 12/2024-Customs Seeks to amend notification No. 55/2022 - Customs, dated 31.10.2022 and notification No. 64/2023 - Customs, dated 07.12.2023, in order to remove end date on export duty on Parboiled Rice and to prescribe specified condition on imports of Yellow Peas. Date: 19-02-2024 Notification No. 10/2024-Customs Seeks to amend notification No. 50/2017- Customs dated 30.06.2017
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