Rituparna Chanda
Proprietor
[ Scorecard : 26]
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Posted On 27 January 2010 at 10:39
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Hi all,
I am software service provider running my own proprietorship business. I am presently having a foreign client who is paying me in dollars transfering my payment( which includes 10.3% service tax) to my current account in Kolkata branch. The queries posted in the service tax forum topic "Foreign Consulting Income" are partly relevant to me, along with that I have some more queries.
1. Do I need to register under any other taxation rules in India other than service tax and trade license pymt?
This year I am going to pay my first IT return and my turn over will be something around Rs5 lakhs pa
2.The service tax category has been wrongly registered under Business Auxiliary Services whereas it should have been done under information technology software services. Its been already almost 1 yr and I have also paid 2 returns under this category. How do I change this?
3. It seems I didn't have to register at all for my foreign client's pymt. Then in this regard following your previous reply I want to know what is CFE?
4. If in future I have domestic clients then I would be needing this service tax regn and category change( back to my qs 2).
Waiting eagerly for your reply.
Thanks & Regards,
Rituparna C.
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Amir
Learner
[ Scorecard : 3851]
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Posted On 27 January 2010 at 12:28
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Dear Rituparna,
Registration under service tax is to be obtained when ur gross receipts(Foreign +Domestic) crosses Rs. 9 Lacs
Secondly, Services rendered outside India like ur foreign clients are exempt from service tax on fulfilling certain conditions..
Thirdly, regarding correction in registration certificate, U have to file "ST-1" & mentioning the correct particulars, thereby u will receive a fresh registration certificate as amended
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Rituparna Chanda
Proprietor
[ Scorecard : 26]
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Posted On 27 January 2010 at 21:04
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Thanks for the reply.
Following ur reply what are the conditions for getting exemptions from service tax on foreign currency income.
Also what do I submit for rectification of service tax category along with ST-1
Thanks & regards,
Rituparna C
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Amir
Learner
[ Scorecard : 3851]
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Posted On 28 January 2010 at 11:01
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Dear Rituparna,
Conditions for exemption -
1) Payment should be received in Foreign Currency
2) Receiver of services must be located outside India when such services are delivered/provided.
For details u can refer Rule 3 of Export of services Rules
Regarding ur second query just a simple application on a plain paper that earlier it was mistakenly considered as Business Auxillary Service instead of IT Services..
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PRATIK P MEHTA
Final Student,articles
[ Scorecard : 120]
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Posted On 28 January 2010 at 15:46
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I Agreed with Amir Sir
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satya prakash mishra
Accounts Offier
[ Scorecard : 27]
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Posted On 12 February 2010 at 16:43
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hi
i m working in hotel industory, its buniness is all over india, our hotel provide management services to other hotels which is not his own.
is service tax is liable on management service.
Is any exemption on this type of management fees.
Satya
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Pavan Jain S
Chartered Accountant
[ Scorecard : 1133]
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Posted On 12 February 2010 at 17:02
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I guess it is taxable under management or business consultant services. you can avail the benefit of threshold exemption of Rs. 10 Lakhs if other conditions satisfied
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