Export treatment for software consultancy: consultancy fees in convertible foreign currency deemed exports, enabling customs exemption on imported goods. The amendments add a provision extending customs exemption to goods imported by units developing computer software when imports are for software development for export or for providing on site software consultancy abroad, provided the unit complies with the notification conditions and follows the Collector of Customs' procedure. Consultancy fees received in convertible foreign currency for on site software consultancy abroad are deemed exports for fulfilling export obligations under the notifications.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Export treatment for software consultancy: consultancy fees in convertible foreign currency deemed exports, enabling customs exemption on imported goods.
The amendments add a provision extending customs exemption to goods imported by units developing computer software when imports are for software development for export or for providing on site software consultancy abroad, provided the unit complies with the notification conditions and follows the Collector of Customs' procedure. Consultancy fees received in convertible foreign currency for on site software consultancy abroad are deemed exports for fulfilling export obligations under the notifications.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
