Win 7 launch may need finmin update first
India could miss the worldwide launch of Microsoft’s new Windows 7 operating system on Thursday, as the retail consignment of the software has not been cleared by the customs authorities, which is demanding physical proof of the software licence. Windows 7 is one of the most anticipated launches in recent times from Microsoft.
Ironically, the problem stems from an industry-friendly move in Budget 2009-10, which changed the tax structure on packaged software by partially exempting it from excise duty. As a result, packaged software is taxed in two parts. While the cost of the media (the CD containing the program) would attract excise duty, the license would attract only service tax.
To read the full article, click here...
To read the ePaper, visit: http://epaper.financialexpress.com
Ironically, the problem stems from an industry-friendly move in Budget 2009-10, which changed the tax structure on packaged software by partially exempting it from excise duty. As a result, packaged software is taxed in two parts. While the cost of the media (the CD containing the program) would attract excise duty, the license would attract only service tax.
To read the full article, click here...
To read the ePaper, visit: http://epaper.financialexpress.com
posted by PressMart Team at
10:27 AM
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