Temporary or permanent transfer of intellectual property attracts 12% GST

Appendix-5C of the HBP also requires the Chartered Accountant to clearly certify that the exporter has submitted e-BRC and the same have been verified

Q. We are manufacturers and exporters of agro chemicals (e.g., pesticides and weedicides). In connection with manufacturing of one of our products, we intend to import process technology to improve the yield of finished goods, with reduced process/production time. The technology is normally imported in electronic form with an option to get a printed copy by courier. Please let us know the tax implications. 

This transaction is transfer of intellectual property. As per entry no. 5(c) of Schedule II to the CGST Act, 2017, “temporary transfer or permitting the use or enjoyment of any intellectual property right” is a service.