VAT on intengibles

[sachin kuchekar]

Dear All,

 

I hereby wants to make general discussion on VAT applicability on intangible e.g. pattern,copyright,trademark or in other words we can say 'right to use.'

AI Summary

VAT on Intangible Assets: Patterns, Copyrights, and Trademarks Taxed at 5%; Service Tax for Downloads Clarified. A discussion on the applicability of VAT on intangible assets such as patterns, copyrights, and trademarks was initiated. One participant noted these intangibles are listed in VAT schedules and taxed at 5%. Another queried about transactions considered as 'right to use,' focusing on telecom and software industries, and items like ringtones and games. It was clarified that in certain jurisdictions, intangible goods are taxed at 5%. Additionally, downloading content like music and games falls under Service Tax, whereas e-shopping is subject to VAT/CST.