As per Sec 65(105)(zzzze)of Finance Act, development of information technology software is liable for service tax. Also, sale of software is liable to VAT.
So, how the invoicing should be done in case of development of IT software and sale of the same? What will be the assessable value for levying service tax & for levying VAT? Will there be a different treatment if the said software is not standard but customised in nature?
CAclubindia
