Cinematographic film not IT software under GST: HC; quashes Rs 79 cr tax demand on Karan Johar firms

Bombay High Court maintained that a cinematographic film is not IT software under GST law regardless of its method of delivery. The court set aside a tax demand of over Rs 79.7 crore from Karan Johar's two production companies after stating that the transactions as licensing of IT software under Services Accounting Code (SAC) 998340, attracting 18 per cent Goods...