Service tax on ipr royalty
Sagnik
(Querist) 09 April 2013
This query is : Resolved
Dear all,
My company has been earning royalty by franchising its trade mark since 2004. My company in the year 2010 got itself registered with the service tax authority but did not pay any tax even after that.
Now if we wish to pay our service tax & regularize our affairs then how much exposure & penalties are we bound to pay ? Is there any way to compound our said default ?
Kindly advice, as to how should we move ahead in the said regard. Do know, that we are most inclined to regularize our affairs, so how should go forward with the same.
Regards,
Sagnik Sanyal
Anirudh
(Expert) 09 April 2013
Would your company mind taking opinion from a lawyer by paying his fees?
Adv k . mahesh
(Expert) 09 April 2013
better to consult a tax consultant
DEBENDRA NATH SAMAL
(Expert) 10 April 2013
Whether you have been filing your Service Tax Return half-yearly. If not, file the same immediately with penalty. I think no ST department has issued any notice for not filing Return. If you are filing return, then you can deposit ST due with interest.