https://www.taxtmi.com/article/detailed?id=9389 Pre-packaged software supplied on physical media is classified as goods for customs and GST purposes and attracts import duties and IGST as goods. Software supplied by download or electronic means, including temporary transfers or permitting use of intellectual property rights, is treated as imported services; such imports are taxable as interstate supplies under the IGST framework and give rise to recipient liability under the reverse charge mechanism, with applicable service classification for GST accounting. R&D cess and RBI/compliance formalities may also apply. en-us Fri, 31 Jul 2020 08:41:29 +0530 Fri, 31 Jul 2020 08:41:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9389 Pre-packaged software supplied on physical media is classified as goods for customs and GST purposes and attracts import duties and IGST as goods. Software supplied by download or electronic means, including temporary transfers or permitting use of intellectual property rights, is treated as imported services; such imports are taxable as interstate supplies under the IGST framework and give rise to recipient liability under the reverse charge mechanism, with applicable service classification for GST accounting. R&D cess and RBI/compliance formalities may also apply. Articles Goods and Services Tax - GST Fri, 31 Jul 2020 08:41:29 +0530 https://www.taxtmi.com/article/detailed?id=9389