What is STPI rules for bills discounting?

Posted by Jony Group on Monday, September 3, 2012

invoice discounting facility

We are Kaizen Global Services India Pvt. Ltd. one international call center at CBD Belapur Navi Mumbai. Our company has a bill discounting facility with The Saraswat Co Op bank Mumbai. As our company is a STPI unit, we need to submit SOFTEX form each month against our Invoices made during the month. On this basis we get bill discounted with our bank.

But as per STPI rules, STPI takes 20 days in certification of SOFTEX form. However our salary date is 7th of every month and we need fund on 7th. Bank is not ready to provide amount of bill discount any how without SOFTEX form.

If we able to get SOFTEX form only after 20th of the month, please know us how we can get discounted amount before 7th?

Please help me and know me what shall I do??

invoice discounting facility.

sorcerer_xyz:Hello Frnd,

I dont understand wats the connection between ur SOFTEX Form and Salary…

As to wat i knw, we submit softex alongwith the sales invoices, so wats the connection with salary… and its not necessary that STPI does the wrk within 20 days it takes even longer coz for the company i work is also a SPTI unit.


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