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
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