.......Prior to this regulation, the software companies enjoyed a tax holiday schemes so they registered under STPI. But eventually when the tax holiday blanket was ripped off, the normal tax norms applied due to which many new startup tech companies chose not to register with STPI. Now due to this circular, the exporter or the tech companies must get registered with STPI to resume exporting. The circular is sure to cremate the IT startups and Small & Medium Enterprises if the government doesn’t take the hint. The repercussions of this circular have been poorly evaluated by the government. The issues that have propped up since the issuance of the circular are as follows......
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