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GST ON LICENSE USED-ROYALTY
We are using product license of one entity overseas, As per register user agreement between us, we have to pay Royalty to them in foreign currency. What would be the GST liability while discharging this liability? Can I have the opinion?
Replies (4)
This would amount to import of service and GST should be applicable on the same
what would be GST rate?
yes its import of services & As per Notification 10 IGST (r) , RCM is to be done @ 18%
Thanks for Update
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