2nd Query! Tds on Ocn Frt and Stax
This query is : Resolved
19 December 2007
but xyz is forwarder. it only add profit margin on the ocean freight gvn by the s/line and quotes the same to the shpr.
how's it can be termed as a service ? plsss explain.
also he doesnt get any sort of commission from the shipping line. neither he provides any kind of service to anybdy.
pl adv.
how's it can be termed as a service ? plsss explain.
also he doesnt get any sort of commission from the shipping line. neither he provides any kind of service to anybdy.
pl adv.
19 December 2007
Hi Shruti,
We go with the wordings as provided in law. Though the service is not provided directly by XYZ, as per the nature the same falls under services.
As a margin of profit is added the same falls under taxation. The tax machinery has been prepared in such a manner that no profit goes untaxed.
In exceptional cases, we may refer any decided case law. Would have to look into for details.
Rgds/
Vineet
We go with the wordings as provided in law. Though the service is not provided directly by XYZ, as per the nature the same falls under services.
As a margin of profit is added the same falls under taxation. The tax machinery has been prepared in such a manner that no profit goes untaxed.
In exceptional cases, we may refer any decided case law. Would have to look into for details.
Rgds/
Vineet
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