Service Tax on Royalty paid to Foreign Company
This query is : Resolved
CA. Shwetank Vats
(Querist)
10 March 2009
Dear Sir,
My Query is regarding service tax applicable in India if A&Co. paid Royalty to Foreigh Company i.e. B&Co. of USA and JAPAN.
Please reply.
Regards
My Query is regarding service tax applicable in India if A&Co. paid Royalty to Foreigh Company i.e. B&Co. of USA and JAPAN.
Please reply.
Regards
Rajesh Kumar
(Expert)
11 March 2009
Service Tax is payable, by indian company, under the head "intellectual property service" under Section 66A of the Finance Act. The payment should be done in cash. If however, such services are used as input service for manufacture of excisable goods or providing taxable output service, the person paying the tax can take cenvat credit.
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CA. Shwetank Vats
(Querist)
12 March 2009
Thanks.
Sir,
My other query is that National Calamity Contingency Duty (N.C.C.D.) can be paid / adjust through Cenvat Credit or paid in cash through PLA.
Please reply
Regards
Sir,
My other query is that National Calamity Contingency Duty (N.C.C.D.) can be paid / adjust through Cenvat Credit or paid in cash through PLA.
Please reply
Regards
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