Tax applicable for Software Exports

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Founder
21 Points Posted on 05 April 2011

Hi!


We are a 2 years old small software export (100% export) firm (Sole Proprietorship). Since we are registered under STPI we had tax exemptions till March 2011.

  1. With STPI scheme coming to end, what taxes will be applicable to us?
  2. Will we have to pay service tax.
  3. Is there something that we can do to save taxes? (Ex: chaning to Pvt Limited or maybe something else)

Thanks!

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On 05 April 2011 at 15:44 Report
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Chartered Accountant
3769 Points Posted on 05 April 2011
1) AS PER MY VIEWS, YOU WILL HAVE TO PAY SERVICE TAX ON THE SOFTWARE, IF IT IS CUSTOMIZED ACCORDING TO THE REQUIREMENTS OF YOUR CLIENT. 2) VAT IS TO BE LEVIED ON SOFTWARE SALE. 3) TAX CANNOT BE SAVED BY CONVERTING PROPRIETORSHIP BUSINESS INTO A PVT. LTD. CO. 4) IN VAT AND SERVICE TAX, YOU CAN TAKE THE INPUT OF THE SERVICES RECEIVED / PURCHASES MADE BY YOU. THUS, YOU CAN REDUCE YOU SERVICE TAX / VAT LIABILITY. REGARDS, DEVENDRA KULKARNI
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On 05 April 2011 at 16:47

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