Royalties

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accounts manager
263 Points Joined June 2009
in Karnataka, gst on royalties they are issuing notices retrospectively with interest are they right?any guidelines in this regard? please sh BHare.Thank you.
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On 01 December 2024 at 15:57 Report
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Master in Accounts & high court Advocate
9434 Points Joined December 2011

The GST on royalty is a fee paid by businesses for using assets and intellectual property, and it's taxed based on GST rates for goods.

The recipients can claim input tax credit if registered under GST.

However, I cannot provide legal advice on whether the notices being issued are correct or not.

 

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On 01 December 2024 at 16:42
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Master in Accounts & high court Advocate
9434 Points Joined December 2011

The GST on royalty is a fee paid by businesses for using assets and intellectual property, and it's taxed based on GST rates for goods.

The recipients can claim input tax credit if registered under GST.

However, I cannot provide legal advice on whether the notices being issued are correct or not.

 

Reply
On 01 December 2024 at 16:43


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