
Trade marks to fall under the residual entry under the GST
GST Registration in India bangs it way through the indirect taxation system eliminating all VATs, CSTs, Service Tax, etc. The act came into force on July 1st, 2017 and the implementation process of the same has already taken its toll.Trademark, goodwill and other intangible assets has attracted 18 percent rate, but with certain conditions and exemptions. Such assets are not mentioned in the final schedule of the GST i.e Goods and Services Tax, published by the government, but has found its place in the residual entries.
Residual entry being that list which mentions all the names which are not mentioned elsewhere on the schedules and therefore trademark attracted a rate of 18 percent.
But not all trademarks are to be charged with such a tax rate, few on the entry attract exemption fro...









