Permanent transfer of Intellectual Property is a supply of goods or service

To obviate dispute and litigation, CBEC vide Notification No. 41/2017-Central Tax (Rate) dated 14th November 2017 notified that irrespective of whether permanent transfer of Intellectual Property is a supply of goods or service: –

Description Rate
Permanent transfer of Intellectual Property other than Information Technology software attracts GST @ 12%
Permanent transfer of Intellectual Property in respect of Information Technology software attracts GST @ 18%

DISCLAIMER: The views expressed are strictly of the author and VJM & Associates LLP. The contents of this article are solely for informational purpose. It does not constitute professional advice or recommendation of firm. Neither the author nor firm and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any information in this article nor for any actions taken in reliance thereon.

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