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This document is intended to discuss the Tax challenges being faced by the Software Product Industry and our Budget Recommendations to Govt. to solve them.
Here are some key areas we will be covering:
1) Software Sale treated as Royalty income
2) Curative steps towards the existing ambiguity and potential duplicity on the taxability of software as goods and / or services
3) Inadequate Rate of Abatement from the Retail Selling Price (“RSP”) to arrive at the value of packaged software/canned software, falling under Central Excise Tariff Heading 8523 80 20 of The Central Excise Tariff Act, 1985, for payment of excise duty under Section 4A of The Central Excise Act, 1944.
4) Appropriate treatment to arrive at the value of the supply of multi-license packaged software/canned software