DSC Services

What is STPI?

Software Technology Parks of India was established and registered as an Autonomous Society under the Societies Registration Act 1860, under the Department of Electronics & Information Technology, Ministry of Communications and Information Technology, Government of India on 5th June 1991 with an objective to implement STP Scheme, set-up and manage infrastructure facilities and provide other services like technology assessment and professional training.

 

Services We Offer

We offer competent service support for STPI Registration Consultancy. With involved companies being 100% tax exempted as per U/S 10A of Income tax Act, 1961, here our team of experts provides competitive service support for establishing of software technology parks in India. The STPI registration services include preparation of application and project report for -

 

1. Registration of unit under STPI scheme
2. Execution/acceptance of LUT
3. Obtaining Green Card

 

Application to Software Technology Parks of India (STPI) to set up a 100% Export Oriented Unit (EOU). Here, the STPI Registration and Consultancy services also involves -

 

1. Preparation of application for Custom Private Bonded warehouse u/s 58
2. Permission for manufacturing u/s 65
3. Obtaining licenses under respective sections of custom Act 1962
4. Filling bond B-17 for import / indigenous duty free purchases
5. Registration for Import clearance under S-16
6. Preparing paper work involving clearing of import consignments from Docks /Cargo /ICDS/CFS under duty exemption schemes
7. Central Excise registration under rule 9 of C.E.Rules - 2002
8. Obtaining necessary NOC from STPI for consignment on every import/indigenous purchase of goods
9. Preparation & obtaining of CT-3 for duty free indigenous purchases
10. And other incidental matters as well as paper work as needed from time to time

 

What us SEZ?

SEZ is a specifically delineated duty free enclave deemed to be a foreign territory for purpose of trade operations and tariffs. Comprehensive legislation i.e. the Special Economic Zone Act, 2005 and the Special Economic Zone Rules, 2006 have been introduced for proper functioning of the scheme.

 

The aim is also to popularize SEZs amongst private investors. Accordingly legislation framework for the SEZ Scheme is as under:

1. The SEZ Act contains provisions for establishment, development and management of SEZ for the promotion of exports and related matters.
2. The SEZ Rules provides guidelines and procedures for effective implementation/ operation of the SEZ Act;

 

SEZ is geographical region, which has economic laws that are more liberal than a country's typical economic laws. The area helps in enhancing the foreign investment and promotes exports from the country. The category 'SEZ' covers a broad range of more specific zone types, including Free Trade Zones (FTZ), Export Processing Zones (EPZ), Free Zones (FZ), Industrial Estates (IE), Free Ports, Urban Enterprise Zones and others. Our SEZ Services includes :

 

Advisory / Regulatory Support

1. Preparation of proposal documentation (preparation of application in Form A for SEZ developer etc.)
2. Preparation of preliminary SEZ documentation for setting up units (application in form F, preparation of project report, business forecast etc.)
3. Application for Import Export Code Number to the Directorate General of Foreign Trade.
4. Obtaining the letter of permission /renewal of LOP
5. Obtaining permissions for movement and transfer of capital goods within the units
6. Obtaining permission for disposal of waste and scrap
7. Application for approval of enhancement in production capacity
8. Permission for change in location of unit/additional location
9. Assistance in obtaining requisite certification for obtaining service tax exemption and refund (Form A1, A2, A3 and A4)
10. Assistance in claiming exemption/refund for entry tax, sales tax and VAT on all purchases (excluding petroleum products) from DTA.
11. Assistance in obtaining exemption on stamp duty and registration charges

 

Compliance Support

1. Filing of returns (half yearly and annual) with SEZ/Central Excise and Service Tax /Commercial Tax Authorities.
2. Structuring of contracts/transactions to optimize indirect tax incidence.
3. Formulating indirect tax efficient business models.
4. Conducting VAT impact assessment studies
5. Undertaking comprehensive reviews of business operations
6. Advice on classification, valuation, applicability of taxes on transactions and admissibility to tax benefits/exemptions
7. Identification of innovative tax planning opportunities
8. Single point contact and centralized coordination for tax payments, compilation of documents

 

Drafting Appeals And Submissions

1. Appearances and arguments before adjudication and appellate authorities.
2. Briefing Senior Counsel on need basis.
3. Representation before relevant Government authorities.

 

 

Specialization in NGO Sector / Exempt Organizations / Trusts include the following areas of service:

 

1. Designing and implementation of Accounting methodology, Policies and procedures
2. To establish and monitor convergence and linkage of program activities and financial management of the NGO's
3. To guide in Planning & Budgeting the proposal of any developmental activity
4. Monitoring and Audit of financial records
5. Project evaluation in association with the experts in the particular field including financial evaluationv
6. Cost analysis of the socio-economic project based on the financial data
7. Guidance on legal compliances such as:
1. Foreign Contribution Regulation Act - Registration and Returns
2. Income-tax Registration & Returns
3. 80G Registration under Income-tax Act
4. Compliance under the Societies Act, Indian Trust Act etc.

What is IEC Code?

IEC Code or Importer Exporter Code is unique 10 digit code issued by DGFT – Director General of Foreign Trade, Ministry of Commerce, Government of India to Indian Companies.

 

The guidelines of the IEC Code are mentioned below:

 

1. (1) No export or import shall be made by any person without an Importer Exporter Code (IEC) Number unless specifically exempted. An Importer/Exporter Code (IEC) number shall be granted on application to the competent authority.
2. (2) An application for grant of IEC number shall be made by the Registered/Head Office of the applicant to the licensing authority concerned in the form specified and shall be accompanied by documents prescribed therein.
3. (3) An Import Export Code No allotted to an applicant shall be valid for all its branches/divisions/units/factories as indicated on the IEC number.
4. (4) Where an IEC Code/ Import Export Code No is lost or misplaced, the issuing authority may consider requests for grant of a duplicate copy of IEC number, if accompanies by an affidavit.
5. (5) If an IEC holder does not wish to operate the allotted IEC number, he may surrender the same by informing the issuing authority. On receipt of such intimation, the issuing authority shall immediately inform all the RBI/Customs/Licensing authorities that the said IEC number has become inoperative.
6. (6) If there is any change in the name/address or constitution of IEC holder/licensee/Actual User eligible for import without a licence/recognised status holders, as the case may be, shall cease to be eligible to import or export against the licence/IEC Number or any other facility permitted under the Policy and Handbook, after expiry of 60 days from the date of such change in his name or constitution, unless in the meantime,
1. the IEC holder/licensee/status holders has got the consequential changes effected in the IEC number/licence or the recognition certificate, as the case may be, by the concerned licensing authority.
2. the Actual User has got the consequential changes effected from the concerned authority in the Industrial Licence issued by the Secretariat for Industrial Assistance (Ministry of Commerce and Industry) or Certificate of Registration as an Actual User issued by Director of Industries of the State Government or has received an acknowledgement for filing of a memorandum with the Secretariat for Industrial Assistance. Provided, however, the licensing authority issuing the IE Code may, condone the delay on payment of a penalty of Rs.5000/-.

PAN - Permanent Account Number

We offer clients services for getting Pan (Permanent Account Number). It is required as per the latest requirement of Income Tax Act. PAN is a number that is used by Income Tax Department for identifying a person as well as through this number get complete information about the assessed person. As a 10 digit alphanumeric number, it comes printed on laminated card and features information like PAN number, name of applicant, father's name, date of birth and also carries passport size photo for identification purposes.

 

PAN number has replaced General Index Registrar (GIR) Number which is provided by assessing officer to assessed and contains details of assessing officer. Based on the section 139A of Income Tax Act, 1961, PAN is required for the following:

 

1. For filing income tax returns
2. For undertaking any correspondence with income tax department
3. For submitting challans for payment of tax levied to the department
4. For conducting verification of identity of assessed in income tax department

 

TAN - Tax Deduction and Collection Account Number

TAN (Tax Deduction and Collection Account Number) is 10 digit alpha numeric number that is needed by all persons responsible for deducting/collecting tax and as per Income Tax Act, 1961 is required by persons making payment/crediting income of specified type to another person. Here the payee deducts a specified amount payable/creditable at time of making payment/giving credit (whichever is earlier) and deposit sum deducted (TDS). Prior to making deductions, persons need to apply to assessing Officer for allotment of tax deduction account number (TAN) under section 203A of the Income Tax Act. TAN in quoted in following documents:

 

1. Challans while depositing deducted tax
2. Certificates issued against tax deducted
3. Returns furnished in respect of tax deducted at source
4. Other documents that pertain to transactions as may be prescribed

 

TAN number is used for deduction of taxes and is required if you are – Paying salary Making payments in form of consultancy fees, rent, contractual payments With the tax deducted at source and paid to Income Tax Department, it is mandatory to deducting taxes and is quoted in TDS/TCS return including in –

 

1. e-TDS/TCS Return
2. TDS/TCS Payment Challan
3. TDS/TCS Certificates

 

eTDS - electronic Tax Deducted at Source

We offer clients competent service support for filing of eTDS. It is submitting TDS through electronics means and has emerged as convenient modes of collection of tax affected at the source from assessed in India. Here, in events where specified income is generated as per the Income-tax Act, the payer of such income needs to deduct stipulated percentage of such income through Income-tax and pay balance amount to the recipient. This dedicated tax is deducted at source by payer and is deposited in Government treasury through the means of eTDS. eTDS is deducted from income of recipient as payment of Income-tax by recipient at time of assessment. There are several listed income sources that are subjected to tax deduction at source and is presently also used as instrument to enlarge tax base like –

 

1. Salary or Rents
2. Interest/Dividend
3. Interest on securities
4. Winnings from lottery
5. Commission & brokerage
6. Fees for professional & technical services

 

As a form of Advance tax paid to government, E-TDS returns are prepared in form No. 24, 26 or 27 as per Govt. of India Income Tax Act. Under this act, all Government & Corporate deductors/collectors need to file TDS (Income Tax Deducted at Source) returns on electronic media. Here, our expertise lies in providing services in preparation of e-TDS through –

 

1. Quarterly Returns
2. Annual Filings