Accepting client payments on behalf of supplier
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 April 2013
This is for a construction co
Can we take payments from Clients on behalf of our supplier and pay the amount to Supplier?
the client is not willing to pay directly to the supplier.
the retail invoice is raised in the name of Constr. Co and the commercial invoice is raised in the name of Client.
We basically want to show that client has purchased the material directly from the supplier and cons co isnt involved in it.
what are the tax implications if the cons. co accepts the payments from clients and pays to the supplier?
Can we take payments from Clients on behalf of our supplier and pay the amount to Supplier?
the client is not willing to pay directly to the supplier.
the retail invoice is raised in the name of Constr. Co and the commercial invoice is raised in the name of Client.
We basically want to show that client has purchased the material directly from the supplier and cons co isnt involved in it.
what are the tax implications if the cons. co accepts the payments from clients and pays to the supplier?
CA. PIYUSH GOEL
(Expert)
01 April 2013
dear..
since construction service is covered under the provisions of service tax ..
therefore in that case you should go for the provisions of pure agent of service tax..
since construction service is covered under the provisions of service tax ..
therefore in that case you should go for the provisions of pure agent of service tax..
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
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
