Recently we came across the tax liablity on knowhow license fee.As
there is service tax on IPRs whether sales tax is also applicable as
per aspects theory.The P/L accounts of a company includes the receipts
of knowhow license fee.In the instant case, how the liablity of sales
tax can be ascertained.
In case of customs, knowhow license fee in case of imported machine
tools is includable in assessable value, if not included in cost of
machine.Whether on the same ground, if above mentioned receipts came
from sale of knowhow ,whether the liablity of sales tax arises.
kindly share your views on this topic.
there is service tax on IPRs whether sales tax is also applicable as
per aspects theory.The P/L accounts of a company includes the receipts
of knowhow license fee.In the instant case, how the liablity of sales
tax can be ascertained.
In case of customs, knowhow license fee in case of imported machine
tools is includable in assessable value, if not included in cost of
machine.Whether on the same ground, if above mentioned receipts came
from sale of knowhow ,whether the liablity of sales tax arises.
kindly share your views on this topic.
