Service tax applicability
Chandrahar Chaturbhooj Bhange (Student CMA) (24 Points)
24 December 2015
Whether service tax applicable on royalty income?
2 Replies
Madhukar N Hiregange
(Chartered Accountant)
(39039 Points)
Replied 24 December 2015
It could be liable as it is not in the negative list or the exemptions.
Yogesh K Shah
(CA)
(30 Points)
Replied 26 December 2015
Royalty received is aplicable for Service Tax under Intellectual Property Rights (IPR)
For IPR the following is taxable,
Any service provided or to be provided to any person, by the holder of IPR in relation to intellectual property service;
And IPR means any right to intangible property, it can be in the form of trade marks, designs, patents or any other intangible property under any law but does not include copyright.
If royalty income is received for any IPR the same will be covered as providing service in relation to IPR service
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