As per the latest amendment to servie tax act, whether export of software is covered under service tax. Is there any exemption for software export. Please clarify.
2 Replies
Ajit kumar Dubey
(Taxation Manager)
(637 Points)
Replied 12 July 2012
exemption is available for export of services if it satisfies the prescribed condition in the notification issued in this respect, but there is no specific exemption available for export of software. Kindly come back with specific query.
PHP
(CEO)
(21 Points)
Replied 20 July 2012
We export web development services to the clients in the UK, South Africa, US and other countries. We make custom web applications as per the client needs and requirements. We do not own the copyright for the softwares we create and neither do we sell them. So we basically provide a service.
We invoice the clients in USD and receive the payment in our bank account (in USD) via wire transfer. The bank statement shows that $xxx has been credited (and converted to INR).
Please let me know if we are liable to pay service tax as per the new rules w.e.f 1st july 2012.
Thanks.
Recent Topics
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- GST Invoices Series
- FILING OF ITR AY 20-21
Related Threads
CAclubindia
