Software Technology Park (STP) Scheme
For the promotion of Software exports from the country, the Software Technology Parks of India was set up in 1991 as an Autonomous Society under the Ministry of Electronics and Information Technology. The services rendered by STPI for the Software exporting community have been statutory services, data communications servers, incubation facilities, training and value added services. STPI has played a key developmental role in the promotion of software exports with a special focus on SMEs and start up units. The STP Scheme which is a 100% export oriented scheme has been successful in fostering the growth of the software industry. The exports made by STP Units have grown over the years.
The STP scheme allows software companies to set up operations in convenient and inexpensive locations and plan their investment and growth driven by business needs. More than 4000 units are registered with STPI.
Benefits under STP Scheme:
- Single window clearance;
- STP/ EHTP unit can be set up anywhere in India;
- 100% foreign equity is permitted;
- Exemptions from payment of duty of customs/ integrated tax and compensation cess on imported capital goods;
- Refund of GST on procurement of capital goods from DTA;
- Import of second-hand capital goods is also permissible;
- DTA sale permissible;
- Depreciation on computers at accelerated rates up to 100% over 5 years is permissible;
- 100% FDI investment permitted through automatic route;