194c
This query is : Resolved
03 January 2014
Employee picks up foreign currency from Exchange Dealer. Company pays Exchange Dealer for the same. Is the amount to be paid treated as " Reimbursement of expense" or should service tax be charged on the same.
Please Assist
Please Assist
03 January 2014
if the money picked up by the employee is for company purpose, then 1, it is not an expense anyways as you just have converted on one currency to another.
2. since it is not an expense, it is not reimbursement of expense.
service tax is to be charged by the exchange dealer for his services. his charges shall be considered as expense and if service tax is levied, the same needs to be paid.
2. since it is not an expense, it is not reimbursement of expense.
service tax is to be charged by the exchange dealer for his services. his charges shall be considered as expense and if service tax is levied, the same needs to be paid.
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03 January 2014
Another question:
If the invoice shows Rs. 10000(say) as paid to exchange dealer and Rs. 10(say) as transaction fee then service tax is to be charged on which figure. Also will tds be deducted on entire invoice amt. or just the srvice part.
If the invoice shows Rs. 10000(say) as paid to exchange dealer and Rs. 10(say) as transaction fee then service tax is to be charged on which figure. Also will tds be deducted on entire invoice amt. or just the srvice part.
03 January 2014
should only be on the service part.
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