CAclubindia

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binny says : Servicre tax on commission receined in USD
Dear Sir I read your expert comments. I have some query regarding service tax applicability on commission received in US dollars from a foreign company. Pl. see if you can comment. An Indian REP. company is procuring orders for foreign principal company from Indian customers. The Indian customers place their orders directly on the name of Foreign principal company. The Indian REP company is not buying and selling. The whole process is like this: 1) The enquiries of Indian customers are issued on the name of foreign supplier. These are sent to Indian company or even directly to foreign company. 2) The Indian REP. advises foreign company to make the offer sheet directly to foreign company keeping his margin/profit included in the offer sheet. 3) The Indian customer places the order and payment directly on that price of the offer sheet directly on the name of foreign company. 4) After the order execution by the foreign company , the foreign company remits the margin/profit to Indian rep. in USD. This profit varies on each order. Please advise service tax applicability in this scenario. Best Regards Binny

binny says : Servicre tax on commission receined in USD
Dear Sir I read your expert comments. I have some query regarding service tax applicability on commission received in US dollars from a foreign company. Pl. see if you can comment. An Indian REP. company is procuring orders for foreign principal company from Indian customers. The Indian customers place their orders directly on the name of Foreign principal company. The Indian REP company is not buying and selling. The whole process is like this: 1) The enquiries of Indian customers are issued on the name of foreign supplier. These are sent to Indian company or even directly to foreign company. 2) The Indian REP. advises foreign company to make the offer sheet directly to foreign company keeping his margin/profit included in the offer sheet. 3) The Indian customer places the order and payment directly on that price of the offer sheet directly on the name of foreign company. 4) After the order execution by the foreign company , the foreign company remits the margin/profit to Indian rep. in USD. This profit varies on each order. Please advise service tax applicability in this scenario. Best Regards Binny

sachin kherodia says : Capital gains Redelopment of Land Query
Hello sir , I have a client who gave his plot of land to builder in excahge for 4 Flats in the building so built on such land in 2008.the agreement was in 2006 and posseion recevied in 2008.He due to his ignorance of law didnt recognised any tax liability back then. Now he has sold one of the flats in 2012-13 FY.My question is:- 1)Whether there should be any tax liability for sale or exchange of land for flats ?? If yes Then in which year 2006-07 FY or 2008-09 FY. Since Nothing was done what should he do now. 2)If no tax liability arised in 2008-09 FY then,for sale of one of Flat in 2012-13 FY what should be Cost of Acquistion .Can I consider 1/4th of the value of the land?? Please kindly reply in detail. Regards

suraj mehta says :
dear SUDARSHAN ji CA JATINDER SINGH ji & my CA RAJESH SHAH has given their opinion that i am not coming under the laws of SERVICE TAX i am a tailor where my customer provides me the fabric & i stitch the same. The process is similar to garment manufacturing. The only difference is that GARMENT manufacturing is done in bulk, but we ( tailors ) cater to individual requirements. My business is JOB WORK. My CA says that all types of manufacturing falls under the laws of EXCISE & hence NO SERVICE TAX applies to me. Kindly give me detailed reply to your opinion that TAILORING is liable for SERVICE TAX. KINDLY GIVE ME YOUR CONTACT No. i will call u