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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%

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