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Indian software exporters need a document trail that connects the service contract, invoice, GST treatment, foreign-exchange declaration and payment received in India. There is no single universal list: the exact filing depends on whether you are an STPI or SEZ unit, how the software is delivered, whether the work is classified as computer software or another service, your GST route and the procedure followed by your authorised-dealer (AD) bank.
For most transactions, prepare a signed commercial agreement, export invoice, GST export file, applicable RBI/FEMA declaration, bank-realisation evidence and entity/KYC records. Add SOFTEX and STPI/SEZ certifications when your delivery model and unit status require them.
Core documents every software exporter should maintain
Keep the following records together for each overseas engagement. A bank, tax officer or auditor should be able to trace one transaction from contract to invoice to inward remittance.
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1. Signed commercial agreement
Retain the master-services agreement, statement of work (SOW), purchase order or equivalent contract signed by both parties. It should identify:
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- The legal name and address of the Indian supplier and foreign customer.
- The software development, maintenance, hosting, support, consulting or other service being supplied.
- Deliverables, milestones, acceptance terms and responsibility for third-party costs.
- Price, currency, taxes, payment schedule, late-payment terms and the account to which payment is sent.
- Intellectual-property ownership, licensing rights, confidentiality and governing-law provisions where relevant.
Keep amendments, change orders, acceptance certificates and correspondence that changes scope or price. If the invoice covers several SOWs, identify each one so the bank can reconcile the remittance.
2. Commercial or export invoice
Issue an invoice from the Indian entity that actually supplied the service. Include the supplier’s legal name, address, PAN and GSTIN where applicable; the customer’s legal details and country; a clear service description; invoice number and date; contract or SOW reference; value and currency; payment terms; and the bank account for settlement.
Describe the supply accurately. “Application development under SOW 04,” “monthly cloud-platform access,” “technical consultancy” and “software maintenance” are more useful than a generic “professional fees.” State whether the invoice is being issued under LUT without charging IGST or with IGST charged for a later refund claim, when that is the chosen GST route. Preserve the final invoice, credit notes, debit notes and proof that the customer received it.
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For a qualifying export of services, retain the invoice plus evidence of the GST option used:
- LUT or bond route: the accepted LUT acknowledgement (or bond documents where applicable), the export invoice and records showing that payment was received within the applicable foreign-exchange period.
- IGST-payment route: the invoice showing IGST, tax-payment records and the refund application and supporting statements submitted through the prescribed process.
CBIC’s GST Sectoral FAQs explain that software-service exports can be supplied without GST when the export conditions are met and refer to the LUT/bond process. Confirm that the transaction satisfies every export-of-services condition before treating it as zero-rated: the supplier must be in India, the recipient outside India, the place of supply outside India under the applicable rule, payment received in convertible foreign exchange or permitted INR settlement, and the parties must not merely be establishments of the same person.
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An LUT generally protects working capital because you do not first pay IGST. The IGST route can be useful when an LUT is unavailable, not in place for the relevant period or when your adviser selects tax payment followed by refund. Refund processing creates additional reconciliation work and timing risk. Your invoice, return data and bank evidence must agree under either route.
4. RBI/FEMA declaration and supporting evidence
RBI foreign-exchange regulations require exporters of goods or software to furnish a declaration supported by evidence. For computer software, the regulation specifies the SOFTEX form and submission to designated officials at Software Technology Parks of India (STPI), free-trade-zone (FTZ), export-processing-zone (EPZ) or special-economic-zone (SEZ) locations. Keep the submitted form, acknowledgement, certification and any correspondence.
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5. Authorised-dealer-bank evidence
Your AD bank is the operational link between the export invoice and foreign-exchange reporting. Keep:
- Inward-remittance advice or foreign-inward-remittance confirmation.
- Bank statements showing the credit, currency and value date.
- Invoice-wise reconciliation, including deductions for bank charges, withholding tax or contractual credits.
- Any electronic bank-realisation record, export-realisation certificate or equivalent document issued by the bank.
- Emails or forms used to explain an unmatched, short or consolidated remittance.
RBI’s Master Direction on export of goods and services covers receipt, realisation and repatriation of export proceeds and software-export invoicing. Ask the bank which current electronic record it accepts; terminology and portal workflows can vary between banks. Keep evidence of follow-up when a customer pays several invoices in one transfer or pays through a payment intermediary.
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6. Entity, tax and KYC records
Maintain incorporation or registration documents, PAN, GST registration certificate, LUT acknowledgement, accounting ledgers, board or partnership authorisations and the KYC documents requested by the bank. These records do not replace the transaction documents, but they establish who is exporting, who can sign and which account should receive the proceeds.
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When SOFTEX is required—and when it may not be
Computer software through an STPI or SEZ channel
For software exported as computer software through an STPI or SEZ unit, SOFTEX and designated-authority certification are central. The RBI notification states that the SOFTEX declaration for computer software is submitted in triplicate to the designated official at STPI, FTZ, EPZ or SEZ locations. Follow the unit’s current online workflow, preserve submission numbers and download the certified copy or acknowledgement.
STPI publishes statutory services and online SOFTEX submission support. An STPI or SEZ unit should retain the forms, invoices, contract or SOW, valuation or pricing support requested in the workflow, certifications and authority correspondence. The unit’s approval conditions can add records beyond the general exporter checklist.
Professional services and IT-enabled services
A consultancy, testing, design, support or other IT-enabled service may not fit the computer-software SOFTEX category. RBI rules still require proper receipt, realisation and repatriation of foreign exchange, but the declaration can follow a different route or no specified form may apply. Obtain the bank’s written instructions for the service classification and retain the explanation with the invoice file.
SaaS, cloud delivery and mixed contracts
SaaS and cloud transactions are classification-sensitive. A subscription that gives a customer remote access to a hosted application may be treated differently from a bespoke software deliverable transferred to the customer. A contract combining code development, hosting, licence rights, support and consultancy can create several supplies or one bundled supply, depending on the facts.
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Document the delivery method, where the application is hosted, what rights the customer receives, whether source code or a licence is transferred, and how each component is priced. Ask your tax adviser, STPI or SEZ officer and AD bank whether the arrangement is treated as computer-software export, another service or a model with a different reporting path. Do not file SOFTEX solely because the invoice contains the word “software.”
Document differences by transaction type
| Transaction or status | Documents normally central to the file | Point requiring confirmation |
|---|---|---|
| STPI or SEZ unit exporting computer software | Contract, export invoice, SOFTEX submission and designated-authority certification, GST file, bank-realisation evidence | Current STPI/SEZ workflow, authority, valuation details and submission timing |
| Non-STPI company doing software development | Contract, invoice, GST file, applicable RBI/FEMA declaration, bank evidence and KYC records | Whether the supply is computer software for declaration purposes and which authority or form applies |
| Consulting, implementation or IT-enabled service | Contract, detailed invoice, GST file, bank-realisation evidence and records supporting the service classification | Whether any specified RBI form applies; SOFTEX is not automatic |
| SaaS or hosted application | Subscription or service agreement, invoice, technical description of delivery, GST file and bank evidence | Classification of hosted access, licence and support components and the related declaration path |
| Mixed code, licence and consultancy engagement | Component-level SOW, invoice allocation, GST file, applicable declaration and remittance reconciliation | Place of supply, bundled-supply treatment and whether separate reporting is needed |
How to choose between LUT and IGST refund
LUT without charging IGST
Use an accepted LUT when the transaction qualifies as a zero-rated export and you want to preserve cash. The invoice states that the supply is made for export under LUT without payment of integrated tax. Keep the LUT acknowledgement for the relevant period, export invoices and proof that proceeds were realised through the permitted channel. If a contract runs across financial years, check that the LUT in force covers each period.
Pay IGST and claim a refund
Under this route, charge IGST on the export invoice, report the supply in the prescribed returns and claim the refund using the required statements and payment evidence. Reconcile invoice numbers, taxable values, tax paid and bank realisation before filing. A mismatch can delay or reduce the refund even when the underlying service qualifies.
The choice is a cash-flow and administration decision, not a way to bypass export conditions. Have the exporter’s tax adviser confirm the route, wording on the invoice and evidence required for the period in question.
Step-by-step document workflow
- Classify the supply before signing. Record whether the engagement is software development, a licence, SaaS access, hosting, maintenance, consultancy or a combination. Note the delivery method and customer location.
- Confirm exporter status. Determine whether the Indian entity is an STPI or SEZ unit, identify its designated authority and check any unit-specific approvals.
- Set the contract and invoice data. Ensure the legal names, addresses, currency, scope, price and payment terms match across the agreement, purchase order and invoice.
- Choose the GST route. Confirm export-of-services conditions, obtain or renew the LUT if using that route, or configure the invoice and return process for IGST payment and refund.
- Ask the AD bank for its current checklist. Provide the bank with the contract, invoice, entity KYC and expected payment path. Ask whether it wants a specific declaration, purpose code, SOFTEX evidence or electronic realisation record.
- Submit any required declaration. For an STPI or SEZ computer-software export, complete the current SOFTEX workflow and retain the acknowledgement or certification. For another service, retain the applicable RBI/FEMA declaration or the bank’s documented confirmation that no specified form applies.
- Track the remittance. Match the incoming credit to invoice numbers and record fees, withholding, exchange-rate differences and partial payments. Resolve unmatched credits promptly with the bank.
- Close the file. Store the signed contract, invoice, GST records, declaration, authority acknowledgement, bank evidence, ledger entry and correspondence together under a unique engagement or invoice reference.
What to give your bank for a foreign-client payment
Send a concise packet rather than isolated documents. It should normally contain the invoice, contract or SOW, a description of the service and delivery model, customer details, expected amount and currency, GST treatment, and your entity and bank-account KYC. After payment, add the inward-remittance advice and reconciliation.
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For a consolidated payment, attach a schedule listing every invoice included. For a short payment, explain bank charges, withholding tax, credit notes or commercial deductions. For an advance, identify the contract and planned service period, then update the bank when the invoice is issued. If the customer pays through a marketplace or payment processor, retain the processor statement showing the payer, gross amount, fees and net transfer to India.
Common mistakes and how to correct them
Using “software export” as a blanket classification
Software development, hosted access, licensing, support and consulting can have different treatment. Correct the file by documenting the actual deliverable and obtaining a classification view from the relevant authority or adviser before choosing SOFTEX or another declaration.
Invoice and contract do not match
Different legal names, currencies, milestone values or descriptions create bank and GST queries. Issue a corrected invoice or documented amendment, and keep both the original and correction with an explanation.
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An invoice that says “under LUT” without an accepted LUT record is incomplete. Retrieve the acknowledgement for the period, verify the entity and validity, and ask your tax adviser how to correct invoices issued before acceptance.
Assuming bank credit proves compliance
A credit in the account does not by itself prove that the invoice, GST return and RBI reporting agree. Reconcile each remittance and retain the bank’s realisation record or equivalent evidence.
Ignoring partial or delayed payment
Track outstanding balances against the applicable foreign-exchange realisation requirements. Document extensions, disputes, write-offs or customer credits and notify the bank when its procedure requires an update.
Relying on an old form or workflow
RBI, GST, STPI and SEZ procedures can change. Before filing, verify the current consolidated RBI wording, the live GST instructions, the STPI or SEZ portal workflow and your AD bank’s checklist. Keep the version, acknowledgement date and correspondence in the transaction file.
Practical master checklist
- Signed master-services agreement, SOW, purchase order and amendments.
- Invoice with supplier and customer identity, service description, currency, value, tax wording and contract reference.
- Accepted LUT or bond records, or IGST payment and refund records.
- SOFTEX form and designated-authority acknowledgement when the computer-software route applies.
- Other applicable RBI/FEMA declaration or documented classification basis.
- STPI/SEZ approvals, certifications and authority correspondence where relevant.
- Inward-remittance advice, bank statement, invoice-wise reconciliation and electronic realisation record.
- Incorporation or registration proof, PAN, GST registration, KYC and accounting-ledger entries.
- Evidence for advances, partial payments, deductions, credits, refunds and changes in scope.
Before you file
Confirm the current form, deadline and any exemption with RBI or DGFT instructions, GST authorities, STPI or SEZ officials and your AD bank. The decisive facts are the entity’s status, service classification, delivery method, GST option and bank procedure. Keep their written guidance with the file when the transaction does not fit a standard computer-software export.
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