Royalty recived or receivable is applicable for GST @ what %
under which section .
if anyone recived royalty amount , what documents need to prepare and is this chargeable in RCM
1 Replies
Asha Kanta Sharma
(Manager - Finance & Accounts)
(36365 Points)
Replied 14 May 2020
Royalty paid by publishers to authors for original literary worksattracts GST at 12% under Reverse Charge Mechanism (RCM). Now a registered author shall have an option to pay GST on royalty charged from publishers under forward charge and observe regular GST compliance.
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