Service tax payment in royalty on ipr

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Dear all,

My company has been earning royalty by franchising its trade mark since 2004. My company in the year 2010 got itself registered with the service tax authority but did not pay any tax even after that.

Now if we wish to pay our service tax & regularise our affairs then how much exposure & penalties are we bound to pay ? Is there any way to compound our said default ?

Kindly advice, as to how should we move ahead in the said regard. Do know, that we are most inclined to regularise our affairs, so how should go forward with the same.

Regards,

Sagnik Sanyal

 

Replies (1)

Ascertain the Service Tax liability with interest and paid the same to the govt.  and intimate the same to dept. Then as per provisions SCN would not be issued and there will not be any penaly provisions.  Kindly do this under guidance of an expert.


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