Exemption to Media containing recorded Information Technology Software:

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..... Dear Sir, Please advise on Exemption to Media containing recorded Information Technology Software in simple words from both point of view Excise and Service Tax. - Reply By KASTURI SETHI - The Reply = Sh.Sandesh Shinde Ji, Media containing recorded Information Technology Software is a packaged software or canned software. It is classified under Chapter/Sub-Heading No.8523 80 20 of Central .....

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..... Excise Tariff Act attracting Central Excise duty @12.50 Adv. It is also covered under MRP vide Notification No. 30/2010-C.E. (N.T.), dated 21-12-2010 ] There is abatement of 15% from MRP declared on the said package vide notification no.49/2008-CE (NT) dated 24.12.2008 as amended. If MRP is not required to be displayed on the package as per the Standards of Weights and Measurement Act, 1976(( .....

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..... 60 of 1976) exemption from Central Excise duty is available on that portion of the product on which Service Tax has been paid. ( Notification No.14/11-CE dated 1.3.2011 as amended refers.). It means CE duty is not to be paid on that consideration/portion on which Service Tax has been paid and declaration to this effect that ST has been paid, or payable has to be made to the A.C./D.C. Naturally S .....

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..... ervice Tax registration no. is also to be mentioned in the Declaration. You may also go through Notification No.11/16-CE and 11/16-Customs both dated 1.3.16. - Exemption to Media containing recorded Information Technology Software: - Query Started By: - SANDESH SHINDE Dated:- 10-3-2016 Central Excise - Got 1 Reply - Central Excise - Discussion Forum - Knowledge Sharing, reply post .....

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..... by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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