accounting entry of sale to franchaisee.

This query is : Resolved

biren thakkar (Querist)
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05 April 2008 Respected sir,
i am having a query regarding the sale to franchaisee, the details are as follows.
Rs.
1. sale 100000
less: vat @ 4% / 104 4000
Net sales 96000

7% comm on net sale 6720
service tax on comm 831
reimbursement 80000
octroi 2000
total deduction 89551

net recievable 6449
(i.e. net sales -
total deductions)

further clarifing that the above amount we are recieving per month from franchaisee.
with the above information i want to know that
1. is it service tax is chargable on 7% commission & if it is yes than under what service head.
2. is i have to deduct tds on Rs. 80000/- monthly reimbursement.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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08 April 2008 This question is repeated one

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