The Customs, Excise, and Service Taxes Appellate Tribunal (CESTAT) held that the service tax is applicable on developing an internet-based trading software and licensing to its customers. The appellants, M/s. Religare Technova Global Solutions Ltd. are developers of an internet-based trading software “Trade Anywhere‟ and licensing the same to its customers who primarily share broking houses or financial institutions or banks and media portals.
Source Taxscan
Latest Posts in "India"
- FCIK Calls on Government to Grant Power and VAT Amnesties for Industrial Units
- Transfer Pricing and GST: Understanding Related Party Transactions and Arm’s Length Principle in India
- GST Exemption on Insurance: Has 18% Tax Cut Reduced Premiums for Policyholders? Government Responds
- GST on Mining Lease Royalty: Classification, Applicable Rate, and Reverse Charge Mechanism Clarified
- CESTAT: Software Preloaded in Imported Hardware Includible in Customs Value, No Penalty on Wipro
