Applicability of service tax on payout from finance companie
This query is : Resolved
07 September 2015
whether the service tax is applicable on the payout given by the finance companies.
07 September 2015
What is the nature of payout.
10 September 2015
sir,
it is the payout for giving them the business to finance i.e vehicle finance
it is the payout for giving them the business to finance i.e vehicle finance
10 September 2015
Yes service tax applicable.
14 September 2015
Sir,
I also want to know that its the company's laibility or the recievers laibility to charges service tax & depsit it..... for ex.
finance comapany gives us a fixed amount of payout on each vehicle financed through them by us.
so, whose laibility is there to charge service tax i .e Finance comapany's or ours.
I also want to know that its the company's laibility or the recievers laibility to charges service tax & depsit it..... for ex.
finance comapany gives us a fixed amount of payout on each vehicle financed through them by us.
so, whose laibility is there to charge service tax i .e Finance comapany's or ours.
14 September 2015
If your total receipts exceed 10 lacs per annum charge service tax and collect it from company and pay it to Govt.
14 September 2015
sir,
it means dat we ,the reciever are laible to collect service tax & deposit it and not the finance company.
for this we are required to charges service tax in our vehicle sale invoice or we need to raise a separate invoice for the finance amount
it means dat we ,the reciever are laible to collect service tax & deposit it and not the finance company.
for this we are required to charges service tax in our vehicle sale invoice or we need to raise a separate invoice for the finance amount
14 September 2015
You need to raise separate invoice.
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