15 July 2019
Yes, service tax is applicable on royalty income.
The CBEC circular on levy of service tax on services provided by the government to businesses says that one-time payments for natural resources are exempt, but not any periodic payments. Oil companies pay royalty on a monthly basis.
15 July 2019
Sir My client is running a partnership firm and getting royalty from some one for using brand name. Is it covered under service tax or not.
CAclubindia
