GST on Intellectual Property Rights
Intellectual property is a type of property which includes intangible creations of human intelligence (human brain). Some of the most famous types of intellectual property are patents; copyrights; trademarks etc. Intellectual property rights allow the creators or owners, of the patents; copyrights or trademarks, to generate economic benefits from their own work or creation. However, the intangible nature of the intellectual property rights always creates difficulties in the taxation front as compared with the traditional tangible property like lands, building etc.Understanding the Intellectual Property Rights under GST
As we all know, under GST, tax is levied on the supply ofRelated Guides
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