Tax on import of downloadable software

Jacob Oommen (Software Developer) (21 Points)

08 January 2019  

I would like to know the taxes applicable on import of downloadable software used for business purpose.

 

1. I believe IGST is appplicable under GST act as has to be paid as per RCM.

2. Is full Input credit available for IGST paid as per RCM ? and can it be availed in the same month ?

3. Is TDS / Withholding tax applicable under Income tax on payment to foreign parties for import of downloadable softare.

4. TDS/ Withholidn Tax paid under Income tax -Is it available as deduction ?

 

thanks & regards,

Jacob