Financial Daily from THE HINDU group of publications
Friday, November 5, 2004
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Financial Daily from THE HINDU group of publications Friday, November 5, 2004 |
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News Update as at 17.00 hrs (IST)
Legal NEW DELHI: In an order which may affect the computer industry adversely, the Supreme Court today held that software could be classified as goods for the purpose of levy of sales tax on it. A five judge constitution Bench headed by Justice Mr N Santosh Hegde said the software were goods under the Sales Tax Act. This judgment was given on petition filed by Tata Consultancy Services challenging a Andhra Pradesh High Court order which had also held software to be goods under Sales Tax Act. With this ruling all states in India would be entitled to levy sales tax on software. - PTI
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