Commission Income
This query is : Resolved
Arpan YAgnik
(Querist)
30 September 2009
One of the partnersip firm having automobile business.Alongwith this firm is doing insurance business .It has no specific agent code , someone else i.e other agent is taking insurance for firms customers, for that certain percentage of premium tranfer to firm as payout commission.Whether firm is liable to pay service tax on payout commission ? Kindly provide refrence of section and notification in your answer.
Thanking You.
Thanking You.
21 October 2009
Service Tax is applicable only after Gross Receipts above 10 lacs per annum.
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