Kerala Technology Start up Policy 2014-Draft
This policy aims to create a world class scientific and technology ecosystem that would empower and enable its youth to pursue their dreams within the state.
The Government of Kerala aims to provide an ecosystem where the youth of the state can reach his or her maximum potentials.
Kerala is the first and only state in the country to have 1% of the state’s annual budget earmarked for Entrepreneurship development activities.
General Incentives
The fiscal and non-fiscal incentives applicable to all categories of Industry would be applicable to the incubators, accelerators andstart-ups in the respective sectors. The existing schemes of the MSME sector shall be made applicable to the Startups in all sectors as per the existing classification.
For more details Pls visit http://itmission.kerala.gov.in

Caspian Techparks India Pvt Ltd.infra developer and Infopark Kochi have joined hands to provide 4.50 lakh sft office space on completion of phase II development of infopark.The project is in 160 acres and is adjacent to phase-I of Info park kochi.

Cyber park Kozhikode a kerala Government IT/ITES facility is going to be a major post production center. Pune based Montura VFX which has associated with Hollywood films like Harry potter ,Spiderman etc has opened its production unit at the cyber park.
Some other multimedia and visual effect companies are showing interest in setting up a presence at the facility by next year.
 

Hon’ble Finance Minister Presented Union Budget 2015-16 in the Parliament and  proposes that GST (Goods And Service Tax) will roll out from 1/4/2016. You can watch Budget Proposal on web site
http://indiabudget.nic.in/

The fund will focus on providing structured debt to high growth start ups that have raised Series -A or Series-B rounds equity funding. The fund has plans to deploy venture debt of Rs. 125-150 Cr a year.
The RBL Bank (formerly known as Ratnakar Bank) has announced it would be the anchor investor in Trifecta Capial’s Venture Debt fund, an alternative investment fund with a commitment of Rs. 50 Cr.
The indian venture capital system has grown significantly in the past decade.  In 2014, capital VC Fund invested $2.1 Billion, an increase of 77.7% from 2013 when VC funds invested $1.4 Billion according to data compiled by VVCEdge.
 

Notification No. 17/2010-CE Dated 27/2/2010
Exemption to packaged software, falling under Chapter 85.-G.S.R. (E).-In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944) and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 22/2009-Central Excise, dated the 7th July, 2009, published in the Gazette of India, Extraordinary vide number G.S.R. 480(E) dated the 7th July, 2009, except as respects things done or omitted to be done before such supersession, the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts packaged software or canned software, falling under Chapter 85 of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986), from so much of the duty of excise leviable thereon as is equivalent to the excise duty payable on the portion of the value determined under section 4 of the said Central Excise Act, which represents the consideration paid or payable for transfer of the right to use such goods:
Provided that the person providing the right to use shall make a declaration regarding consideration paid or payable in respect of such transfer to the Deputy Commissioner of Central Excise or the Assistant Commissioner of Central Excise, as the case may be:
Provided further that the person providing the right to use shall be registered under section 69 of the Finance Act, 1994 (32 of 1994) read with rule 4 of the Service Tax Rules, 1994.
Explanation. – For the purposes of this notification, “packaged software or canned software ” means software developed to meet the needs of variety of users, and which is intended for sale or capable of being sold off the shelf.
F. No. 334/1/2010-TRU
(Prashant Kumar)
Under Secretary to the Government of India

Circular No.118 /12/2009-ST
F.No.341/15/2007-TRU
Government of India
Ministry of Finance
Department of Revenue
(Tax Research Unit)
****
North Block, New Delhi,
23rd November, 2009.
Subject: Refund of service tax paid on foreign agent commission by exporters – Notification No.18/2009 dated 07/07/2009 – clarification – Reg.
Representations have been received from exporters, seeking clarification whether ten per cent of free on board (FOB) value of export goods allowed as foreign agency commission vide Notification 41/2007-ST dated 06/10/2007 as amended, has been reduced to one per cent vide Notification 18/2009-ST dated 07/07/2009 .
2. In the context of refund of service tax paid on foreign agency commission, Notification 18/2009 dated 07/07/2009 (in the table, sl.no.2 , condition no. 2) says “exemption shall be limited to one percent of the free on board value of export goods for which the said service has been used”. This means that amount of service tax paid, which can be refunded to the exporter, is restricted to one percent of the FOB value of export goods in relation to which the taxable service of the foreign agent was used.
3. The current rate of service tax being ten per cent and the maximum allowable limit of foreign agency commission being ten percent of FOB, one percent of the FOB value of export goods is the maximum exemption of service tax. To settle all doubts to rest, for the purpose of service tax refund, maximum allowable foreign agency commission on export goods continues to be at the pre-budget level of ten percent of the fob value of export goods till further changes are notified.
(J. M. Kennedy)
Director (TRU)

Circular No. 30/2009-Cus
F.No.: DGEP/G&J/428/2006
Govt. of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
Directorate General of Export Promotion
New Delhi, the 22nd October, 2009
All Chief Commissioners of Customs/Central Excise,
All Commissioners of Customs /Central Excise.
Madam /Sir
Sub: Procedure and guidelines for import of diamonds for certification and grading and re-export thereof – reg.
A new scheme under paragraph 4A.2 has been introduced in the Foreign Trade Policy 2009-2014 (FTP) for import of diamonds for certification and grading and re-export thereof. Procedure in this regard has also been specified under paragraph 4A.14 of Handbook of Procedure Volume I (HBP). To avoid dichotomy in following the procedure by the field formations for allowing import of diamonds for the specified purpose and re-export thereof, the salient feature of this scheme and procedure in this regard are laid down.
1.
This scheme is presently allowed to the authorized offices/ agencies in India of Gemological Institute of America (GIA) in India only;
2.
GIA shall furnish a general bond to the satisfaction of the Asstt./ Dy Commissioner of Customs at the port of import, undertaking to properly account for the diamonds, to follow the specified procedure and to re-export diamonds within the prescribed period;
3.
The import shall be allowed under bill of entry having the detailed description of the diamonds, including inter alia, the dimensions, weight, colour, caratage, specification, approximate value etc of each piece of diamonds;
4.
The bill of entry should carry the endorsement “only for certification and grading”;
5.
GIA, while taking the diamonds in their unit, shall allot a unique ’control number’ for identification purposes and maintain a separate account for such diamonds;
6.
After the grading/certification, the diamonds shall be re-exported under a shipping bill containing the detailed description as was mentioned at the time of import;
7.
Cross reference of B/E shall be endorsed in the shipping bill;
8.
The onus of certification shall solely rest with the GIA, i.e. the diamonds being re-exported are the same as those imported. GIA shall submit a certificate to this effect, along with the S/B, at the time of re-export;
9.
GIA shall obtain GR waiver in respect of import and re-export as per the procedure laid down by RBI and realize the foreign exchange for the service charges in terms of RBI guidelines;
10.
The premises of GIA can be visited by Custom officers for surprise audit or checks. The Commissioner should devise a system of random audit at least twice a year;
11.
The diamonds imported for certification/grading are to be re-exported within a period of 3 months from the date of import;
12.
The importer shall submit a quarterly statement by 25th of the month succeeding quarter. The statement should reflect the B/E No. & date, details of diamonds and details of re-exports etc; and
13.
Re-export shall be allowed only from the port through which import took place.
2. Wide publicity may please be given to these instructions by way of issuance of Public/Trade Notice. Suitable Standing orders/instruction may be issued for guidance of the field officers. Difficulties, if any, in implementation of these instructions, may be brought to the notice of the Directorate General of Export Promotion.
3. This issues with the approval of Central Board of Excise & Customs.
4. Receipt of this circular may kindly be acknowledged.
.
Yours faithfully
Sd/-
(Praveen Mahajan)
Director General

Government of India
Ministry of Finance
(Department of Revenue)
New Delhi, the 23rd September, 2009
Notification No. 39/2009-Service Tax
G.S.R. -(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable service specified in sub-clause (zzb) of clause 105 of section 65 of the Finance Act, provided by a person ( hereinafter called the ‘service provider’) to any other person ( hereinafter called the ‘service receiver’) during the course of manufacture or processing of alcoholic beverages by the service provider, for or on behalf of the service receiver, from so much of value which is equivalent to the value of inputs, excluding capital goods, used for providing the same service, subject to the following conditions, namely:-
a) that no Cenvat credit has been taken under the provisions of the Cenvat Credit Rules, 2004;
b) that there is documentary proof specifically indicating the value of such inputs; and
c) where the service provider also manufactures or processes alcoholic beverages, on his or her own account or in a manner or under an arrangement other than as mentioned aforesaid, he or she shall maintain separate accounts of receipt, production, inventory, despatches of goods as well as financial transactions relating thereto.
2. This notification shall come into force on the date of publication in the Gazette of India.
Explanation.- For the purposes of this notification, the words or phrase ‘input’, or as the case may be, ‘capital goods’ shall have the meaning as is assigned to them under rule 2 of the Cenvat Credit Rules, 2004.
[F. No. 332/17/2009-TRU]
(Prashant Kumar)
Under Secretary to the Government of India