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Software Excise Duty Disturb IT-Industry - P. Chidambaram, Union finance minister may have pushed the semiconductor industry, but the excise duty on packaged software is being viewed as a hindrance for the growth of domestic software development industry in India
Software Excise Duty Disturb IT-Industry

 

PRZOOM - /newswire/ - Ahmedabad, India, 2006/03/04 - P. Chidambaram, Union finance minister may have pushed the semiconductor industry, but the excise duty on packaged software is being viewed as a hindrance for the growth of domestic software development industry in India.

   
 
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However, with the news of introduction of excise duty on software products, it can make impact on the general demand, particularly adverse effect for the education sector. The budget has been neutral on the IT front, so the proposed 8 per cent duty for all the counter packaged software increases Information Technology penetration for majority of the people. The review of Fringe Benefit Tax by removing some genuine business expenditure from its preview welcomes.

As far as the software development industry is concerned, there would be increase in cost of both software and hardware that are business related in the domestic market, whether it is imported or not. So with the view of export-oriented IT industry there is little impact because the increased of duties wont affect the units of STPI.

The industry has already welcomed the plan to move up the tele-density and modernize with IT tax. In the process of budget it can’t view the IT sector like way as food processing, tourism, textiles among others. This entire segment has been benefited in this year. There would be increase in piracy due to higher Software Excise duty this year.

Indicating the Budget as well-balanced and positive one, it was neutral on the IT Outsourcing industry but for a small increase in Minimum Alternate Tax or service tax. The increase in service tax was expected to have an impact on the costs of the services availed for the IT industry. Right now increased of Software excise duty has left the booming IT industry into frowning, an Indian semiconductor industry would like to congratulate the Finance Minister for the proactive support to this segment by his decision to formulate national semiconductor policy by setting up comity.

 
 
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Software Excise Duty Disturb IT-Industry

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