15 February 2009
I have purchased 1 core in the year 2007-08 for that i received Turnover discount or incentive Rs.70000/. Now one of friend said that i have to pay service tax for that 70000/- is it correct?
19 April 2009
Your enquiry and the transaction is not clear.
But a fair reading tells us that you are enquiring regarding the applicability of service tax on TOD.
Since you are an individual, and your income from the taxable service is below the threshold limit of 10 lacs ( it is assumed that you have not had any other income from any other taxable services provided by you) no service tax is payable by you on the said receipts.
CAclubindia
