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April 2016

Exemption to Software recorded on Media bearing RSP

By Tarun Ghia, Pratik Mehta, Brijesh Cholera Chartered Accountants
Reading Time 1 mins
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Notification No. 11/2016 dated 01. 03. 2016

By this Notification Service Tax has been exempted w.e.f. 1st March, 2016 on Information Technology Software if such software is:

(1) recorded on a media which is notified under Chapter 85 of the CETA ;
(2) on which RSP is required to be declared;
(3) the value of the package of such media domestically procured or imported, has been determined under Section 4A of the CE Act;
(4) Excise Duty / CVD has been paid by the manufacturer / importer on RSP basis;
(5) the service provider has to make a declaration on the invoice that no amount in excess of the declared RSP has been recovered from the customer;
(6) E xemption from excise to the extent of value liable for service tax in case of customized software which does not require RSP (Notification no. 11/2016 – CE refers).

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