The Central Board of Indirect Taxes and Customs (CBIC) notified that 18% GST on Temporary or permanent transfer or permitting the use or enjoyment of Intellectual Property Right ( IPR ).
The Board empowered under sub-section (1), sub-section (3) and sub-section (4) of section 9, sub-section (1) of section 11, sub-section (5) of section 15, sub-section (1) of section 16, and section 148 of the Central Goods and Services Tax Act, 2017, the Central Government, on being satisfied that it is necessary for the public interest so to do, on the recommendations of the Council amended notification No.11/2017- Central Tax (Rate), dated the 28th June 2017.
The GST at the rate of 18% is applicable on temporary or permanent transfer or permitting the use or enjoyment of Intellectual Property (IP) right; Services by way of job work in relation to manufacture of alcoholic liquor for human consumption and Other manufacturing services; publishing, printing and reproduction services; materials recovery services
Further, 18% GST is payable on Services by way of admission to; theme parks, water parks, and any other place having joy rides, merry-go-rounds, go-carting, or ballet.
The Board has notified that 28% of GST is payable on services by way of admission to (a) casinos or race clubs or any place having casinos or race clubs or (b) sporting events like the Indian Premier League.
This notification shall come into force with effect from the 1st October 2021.
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