binayak goswami (Income Tax Practitioner) (34 Points)
06 May 2017
binayak goswami
(Income Tax Practitioner)
(34 Points)
Replied 06 May 2017
IS THERE ANY SERVICE TAX EXEMPTION ON COMMISSION RECEIVED BY A RCV DISTRIBUTOR?
Yeshwant
(Trustee)
(25 Points)
Replied 07 May 2017
Assesse is a trust. Rent income of building is recd. Registered and paying service tax every month. Constructed new building for renting out. Can it get input credit from construction labour charges bills ? New agreement for getting additional rent and service tax is in place.
Mahesh Babu
(CA Final)
(618 Points)
Replied 19 May 2017
| Originally posted by : binayak goswami | ||
 |
COMMISSION RECEIVED U/S194H (AS RCV DISTRIBUTOR OF AIRCEL). DO I NEED TO PAY SERVICE TAX ON COMMISSION RECEIVED? IF YES, THEN PLZ TELL ME THE % OF SERVICE TAX FOR THE FY 15-16 & 16-17? WHETHER THE SERVICE TAX AMT IS REFUNDABLE BY THE TELECOM COMPANY OR NOT? TNX. PLZ DO RPLY. |
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ST need to pay @ 15% on such commission amount and that amount received form service receiver in your Bank a/c to be shown as inclusive of service tax.
Mahesh Babu
(CA Final)
(618 Points)
Replied 19 May 2017
| Originally posted by : binayak goswami | ||
|
IS THERE ANY SERVICE TAX EXEMPTION ON COMMISSION RECEIVED BY A RCV DISTRIBUTOR? | |
No Exemption available to commission agents.
Mahesh Babu
(CA Final)
(618 Points)
Replied 19 May 2017
| Originally posted by : Yeshwant | ||
|
Assesse is a trust. Rent income of building is recd. Registered and paying service tax every month. Constructed new building for renting out. Can it get input credit from construction labour charges bills ? New agreement for getting additional rent and service tax is in place. |
|
No Cenvat credit will be available for such income, on which Service tax was paid.
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