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.
CA. Vineet Grover
(Expert)
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Ito add credit side of bank
- GSTR9 Annual Return
- Employee secondment
- Applicability of tax on invoice
- Closer of business and itc of capital goods
- Rent agreement of House of deceased person
- Rectification under processing even after 6 months cpc portal
- Gift to nri relatives resides in usa
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
