Permanent transfer of IPRs would be subject to 18% GST: Notification
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- Last Updated on 29 October, 2021
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Notification no. 13/2021 – Central Tax (Rate) dated 27-10-2021
Based on the recommendation of the 45th GST Council meeting, GST rate on the permanent transfer of the Intellectual Property right (IPR), in respect of goods other than IT software, under the service tariff notification was increased from 12% to 18% by Notification no. 06/2021 – Central Tax (Rate) dated September 30, 2021. However, no such amendment was made in the rate notification of goods (as similar expression was also there). In order to avoid any ambiguities, amendment in the rate notification of goods has also been made to provide the GST rate of 18% on the permanent transfer of all IPRs.
Click Here To Read The Full Notification
Read our analysis: Analysis of GST Rates and Exemptions notified based on 45th GST Council Meeting
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