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In the emerging global economy, Information Technology is the largest, fastest growing and most profitable industry across the globe. Identifying IT as the future for India and its vast potential, the Government announced a software policy in the year 1986 making “Software, Exports, Development & Training” as a major thrust area for which the Government formulated the STP Scheme. The Software Technology Park (STP) scheme is a 100% export oriented scheme for the development and export of computer software & services using data communication links or in the form of physical media including the export of professional services. The major attraction of this scheme is single point contact service to the STP units.
The Government of India established and registered STPI as an Autonomous Society under the Department of Electronics (Now Ministry of Information Technology) on 5th June 1991 with an objective to implement the STP Scheme, set-up and manage infrastructural facilities and provide other services including professional training.
Efficient and reliable data communication facility is essential for software development, in emerging areas like software maintenance, application re-engineering, remote computing and executing offshore projects, IT enabled services, etc.
One of the objectives of Software Technology Parks of India is to provide effective data communication facilities to the esteemed Software Exporters. In persuasion of this objective the STPI established its own gateways at its nodal centres located in different parts of the country. STPI has a complete and state of excellent Infrastructure for operating an International Gateway.
The customer premises in India is connected to their client located abroad by gateway which is located at STPI's Centres through a radio link ,using either point to point or point (CDMA) to multi point radio (TDMA) Link. This facilitates any company operating in India or abroad connected to Internet, and to access SoftNET. Today all major software exporters in India are customers of Softnet (STPI-Datacom).
We aim at making India the most preferred country in the world for all types of software resources and services.
The concept of STP Scheme was evolved in 1991 and enunciated the following objectives:
- To establish and manage infrastructure resources such as Data Communication facilities, Core Computer facilities, Built-up space and other common amenities.
- To provide 'single window' statutory services such as Project approvals, import certification software valuation and certification of exports for software exporters.
- To promote development and export of software services through technology assessments, market analyses, market segmentation and marketing support.
- To train professionals and to encourage design and development in the field of software technology and software engineering.
STP Scheme Benefits & Highlights
- Approvals are given under single window clearance scheme.
- 100% Income Tax Holiday as per section 10A of the IT Act.
- 100% Customs duty exemption on imports
- Equipment can also be imported on loan or lease basis.
- A company can set up STP unit anywhere in India.
- 100% Foreign Equity is permitted and approved by jurisdictional Director of STPI.
- All the imports of Hardware & Software in the STP units are completely duty free. All relevant equipment/goods including second hand equipment can be imported (except prohibited items)
- Unit shall be a positive net foreign exchange earner. Net Foreign Exchange Earnings (NFE) shall be calculated cumulatively in blocks of five years, starting from the commencement of production
- Use of computer system for commercial training purposes is permissible subject to the condition that no computer terminals are installed outside the STP premises.
- Green card enabling priority treatment for Government clearances / other services.
- The sales in the Domestic Tariff Area (DTA) shall be permissible up to 50% of the export in value terms.
- STP units are exempted from payment of corporate income tax up to 2010. (For assessment year 2003-2004 10 % of profit will be taxed).
- The capital goods purchased from the Domestic Tariff Area (DTA) are entitled for benefits like exemption of excise Duty & reimbursement of Central Sales Tax (CST).
- Capital invested by Foreign Entrepreneurs, Know-How Fees, Royalty, Dividend etc., can be freely repatriated after payment of Income Taxes due on them, if any.
- Repartition of foreign currency for payments can be freely done.
- Software units may also use the computer system for training purpose (including commercial training).
Additional Benefits according to different State Government IT Policy.
- Sales Tax Exemption
- Stamp duty Wavier.
- Electricity duty exemption.
- Octroi / Entry Duty Exemption
- Property Tax on par with Residential Premises
- Additional FSI
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