Stpi
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 May 2012
Dear Friends
Can any one tell me about compliance to be made for STPI unit on urgent basis. Thanks in advance.
Can any one tell me about compliance to be made for STPI unit on urgent basis. Thanks in advance.
28 May 2012
The compliances are related to service tax,VAT,Customs and Direct tax and with STPI authorites.
Bonding is done through a document B-17 Bond which is an agreement of the STPI unit with the Development Commissioner of the STPI. This documents binds the unit for importing duty free procurement against export. Debonding of a unit is to releive itself from this liability and pay applicable duty (if required)
Pls visit www.stpi.in for details informATION...
Procedure to obtain the bonded ware house licence
**************************************************
The bonded ware house licence can be obtained from sea customs or the air customs. The following documents are to be submitted to the customs.
Application for obtaining bonded ware house licence
Sale deed / lease deed of the premise
MOA , ROC
Copy of
- Approval letter as 100 % EoU
- Legal agreement executed with STPI
- IE code
- Green card
- List of CG to be imported – attested by STPI
- List of CG to be procured indigenously – attested by STPI.
The customs authorities will process the application and they will come for an inspection of the premises. After this the customs will inspect the premise and issue the bonded ware house licence
The STP units have to now execute the B – 17 bond which will enable them to import capital goods free of duty. B-17 is the general bond to be executed with the Asst. Commissioner of Customs with surety / security. The B-17 bond covers the following:
- Bond for carrying our in-bond manufacture
- Bond to fulfill the export obligation
- Double duty bond in respect of ware housing of the Imported
goods
- Bond for procuring duty free goods from domestic
manufacturers
- Bond for movement of duty free imported goods for export or
other 100% EoUs or for repair.
Procedure for executing the B – 17 bond
***************************************
The STP units have to now execute the B – 17 bond which will enable them to import capital goods free of duty. B-17 is the general bond to be executed with the Asst. Commissioner of Customs with surety / security. The B-17 bond covers the following:
- Bond for carrying our in-bond manufacture
- Bond to fulfill the export obligation
- Double duty bond in respect of ware housing of the Imported
goods
- Bond for procuring duty free goods from domestic
manufacturers
- Bond for movement of duty free imported goods for export or
other 100% EoUs or for repair.
The B-17 bond value is 25% of the rate of duty (customs + central excise) foregone for CG purchase.
The B-17 has to be supported by a surety which is equal to the bond amount or with a security in the form of bank guarantee to a tune for 5% of the bond value.
Statutory compliance for STP units.
**********************************
Important statutory compliance for STP units are listed below as reference:
Accounts: Each of such unit is required to maintain separate accounts for its operations. Separate annual balance sheet will have to be made for each such unit which would be become a part of the main balance sheet of the company. For maintaining separate accounts the following will have to be done :
a) Maintenance of separate Cash & Bank book and corresponding vouchers
b) Maintenance of sales invoices.
c) Maintenance of Fixed Asset register.
d) Maintenance of Foreign Inward Remittance certificate file (FIRCs) & Bank Realisation Certificates file where the original of the FIRCs and BRCs are kept.
e) Maintenance of contract file, where copies of contracts received from buyers are maintained.
f) Preparation of yearly balance sheet for the unit which would ultimately become a part of the balance sheet of the company.
Banking: Each unit is required to maintain separate bank accounts for its operations. The units is free to have as many bank accounts as it desires but shall have to designate a single branch of bank whom all export documents will be submitted. In other words the work of handling of all shipping documents and realisation of export proceeds will have to be entrusted to this designated bank branch.
****************************************************
Mandatory Statutory Obligation & Records :
The following are the details of other mandatory statutory obligation and records that have to be kept at the unit:
a) Import Certificate : A copy of the import certificates issued by STPI permitted imports for the unit should be maintained. This should have the full debits etc., as per the actual imports.
b) Export Certificate : A copy of the certified export forms attested by STPI should be maintained.
c) Bill of Entry File : Copies of all the Bill of Entries for the import of materials have to be maintained in this file. This should be maintained in the same order as per the prescribed format
d) Performance Reports File : Monthly & Quarterly performance reports have to be given to STPI. A copy of the return duly receipted by the authority must be maintained in the MPRs & QPRs file separately.
Annual Performance Return: Yearly performance report to be given to the Authority in the prescribed form as sought by them. Annual performance returns to STPI should be promptly as the actual export obligation etc., for the STP Unit is worked out by the authority on the basis of this return.
Service Charges to STPI.
Each STP unit is required to pay service charges to STPI as per following:
Export Turnover Amount of Service Charge
Exports upto Rs.25 lakhs per annum Rs.8,000/=
Exports between Rs.25 – 50 lakhs per annum Rs.16,000/=
Exports between Rs.50 – 300 lakhs per annum Rs.55,000/=
Exports between Rs.3 – 10 crore per annum Rs.1.10 lakhs
Exports between Rs.10 – 25 crore per annum Rs.2.25 lakhs
Exports between Rs.25 – 50 crore per annum Rs.2.50 lakhs
Exports between Rs.50 – 100 crore per annum Rs.3.50 lakhs
Exports above Rs.100 -500 crores per annum Rs.5.75 lakhs
Exports above Rs.500 -1000 crores per annum Rs.6.00 lakhs
Exports above Rs.1000 crores per annum Rs.6.50 lakhs
Note: Wherever the information desirous is to be attached in annexures
read link:
http://www.tvpm.stpi.in/download/checklist.pdf
Bonding is done through a document B-17 Bond which is an agreement of the STPI unit with the Development Commissioner of the STPI. This documents binds the unit for importing duty free procurement against export. Debonding of a unit is to releive itself from this liability and pay applicable duty (if required)
Pls visit www.stpi.in for details informATION...
Procedure to obtain the bonded ware house licence
**************************************************
The bonded ware house licence can be obtained from sea customs or the air customs. The following documents are to be submitted to the customs.
Application for obtaining bonded ware house licence
Sale deed / lease deed of the premise
MOA , ROC
Copy of
- Approval letter as 100 % EoU
- Legal agreement executed with STPI
- IE code
- Green card
- List of CG to be imported – attested by STPI
- List of CG to be procured indigenously – attested by STPI.
The customs authorities will process the application and they will come for an inspection of the premises. After this the customs will inspect the premise and issue the bonded ware house licence
The STP units have to now execute the B – 17 bond which will enable them to import capital goods free of duty. B-17 is the general bond to be executed with the Asst. Commissioner of Customs with surety / security. The B-17 bond covers the following:
- Bond for carrying our in-bond manufacture
- Bond to fulfill the export obligation
- Double duty bond in respect of ware housing of the Imported
goods
- Bond for procuring duty free goods from domestic
manufacturers
- Bond for movement of duty free imported goods for export or
other 100% EoUs or for repair.
Procedure for executing the B – 17 bond
***************************************
The STP units have to now execute the B – 17 bond which will enable them to import capital goods free of duty. B-17 is the general bond to be executed with the Asst. Commissioner of Customs with surety / security. The B-17 bond covers the following:
- Bond for carrying our in-bond manufacture
- Bond to fulfill the export obligation
- Double duty bond in respect of ware housing of the Imported
goods
- Bond for procuring duty free goods from domestic
manufacturers
- Bond for movement of duty free imported goods for export or
other 100% EoUs or for repair.
The B-17 bond value is 25% of the rate of duty (customs + central excise) foregone for CG purchase.
The B-17 has to be supported by a surety which is equal to the bond amount or with a security in the form of bank guarantee to a tune for 5% of the bond value.
Statutory compliance for STP units.
**********************************
Important statutory compliance for STP units are listed below as reference:
Accounts: Each of such unit is required to maintain separate accounts for its operations. Separate annual balance sheet will have to be made for each such unit which would be become a part of the main balance sheet of the company. For maintaining separate accounts the following will have to be done :
a) Maintenance of separate Cash & Bank book and corresponding vouchers
b) Maintenance of sales invoices.
c) Maintenance of Fixed Asset register.
d) Maintenance of Foreign Inward Remittance certificate file (FIRCs) & Bank Realisation Certificates file where the original of the FIRCs and BRCs are kept.
e) Maintenance of contract file, where copies of contracts received from buyers are maintained.
f) Preparation of yearly balance sheet for the unit which would ultimately become a part of the balance sheet of the company.
Banking: Each unit is required to maintain separate bank accounts for its operations. The units is free to have as many bank accounts as it desires but shall have to designate a single branch of bank whom all export documents will be submitted. In other words the work of handling of all shipping documents and realisation of export proceeds will have to be entrusted to this designated bank branch.
****************************************************
Mandatory Statutory Obligation & Records :
The following are the details of other mandatory statutory obligation and records that have to be kept at the unit:
a) Import Certificate : A copy of the import certificates issued by STPI permitted imports for the unit should be maintained. This should have the full debits etc., as per the actual imports.
b) Export Certificate : A copy of the certified export forms attested by STPI should be maintained.
c) Bill of Entry File : Copies of all the Bill of Entries for the import of materials have to be maintained in this file. This should be maintained in the same order as per the prescribed format
d) Performance Reports File : Monthly & Quarterly performance reports have to be given to STPI. A copy of the return duly receipted by the authority must be maintained in the MPRs & QPRs file separately.
Annual Performance Return: Yearly performance report to be given to the Authority in the prescribed form as sought by them. Annual performance returns to STPI should be promptly as the actual export obligation etc., for the STP Unit is worked out by the authority on the basis of this return.
Service Charges to STPI.
Each STP unit is required to pay service charges to STPI as per following:
Export Turnover Amount of Service Charge
Exports upto Rs.25 lakhs per annum Rs.8,000/=
Exports between Rs.25 – 50 lakhs per annum Rs.16,000/=
Exports between Rs.50 – 300 lakhs per annum Rs.55,000/=
Exports between Rs.3 – 10 crore per annum Rs.1.10 lakhs
Exports between Rs.10 – 25 crore per annum Rs.2.25 lakhs
Exports between Rs.25 – 50 crore per annum Rs.2.50 lakhs
Exports between Rs.50 – 100 crore per annum Rs.3.50 lakhs
Exports above Rs.100 -500 crores per annum Rs.5.75 lakhs
Exports above Rs.500 -1000 crores per annum Rs.6.00 lakhs
Exports above Rs.1000 crores per annum Rs.6.50 lakhs
Note: Wherever the information desirous is to be attached in annexures
read link:
http://www.tvpm.stpi.in/download/checklist.pdf
Message likes :
3 times
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 May 2012
Sir,
Thanks alot but this link is not working www.stpi.in.
Thanks alot but this link is not working www.stpi.in.
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 May 2012
Sir,
Thanks alot but this link is not working www.stpi.in.
Thanks alot but this link is not working www.stpi.in.
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 May 2012
Sir,
Could you please tell me the due date within which we have to file monthly quarterly and annual return.
Could you please tell me the due date within which we have to file monthly quarterly and annual return.
29 May 2012
Madam i am posting below mentioned link must read:
http://www.iiem.com/em/software/chapter6.html
the above said link is working check it again & noted that in case of APR you can submit in specified time period i.e. 1st April to 31 march.
more information already posting by me on your email
eminent expert also invited for the reply...
http://www.iiem.com/em/software/chapter6.html
the above said link is working check it again & noted that in case of APR you can submit in specified time period i.e. 1st April to 31 march.
more information already posting by me on your email
eminent expert also invited for the reply...
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