Cash discount,rebates can we pay it as interest reg...
This query is : Resolved
28 December 2012
Dear All,
One of our customer recevies commission, cashdiscount and rebate. We collect service tax Bill for commission paid and deduct TDS, but for cash discounts & Rebates we are not collecting service tax bill from customer since our industry cannot take credit in service Tax.
Now the customer asks us to give as Payment of Interest for Cash Discount and Rebates amount. Our Industry is a paper Manufacturing Industry and can we do like that. If not in what other terminology other than Interest we can pay.
Kindly clarify,
N.Nagarajan
M.No: 9442594927
One of our customer recevies commission, cashdiscount and rebate. We collect service tax Bill for commission paid and deduct TDS, but for cash discounts & Rebates we are not collecting service tax bill from customer since our industry cannot take credit in service Tax.
Now the customer asks us to give as Payment of Interest for Cash Discount and Rebates amount. Our Industry is a paper Manufacturing Industry and can we do like that. If not in what other terminology other than Interest we can pay.
Kindly clarify,
N.Nagarajan
M.No: 9442594927
29 December 2012
Hi Nagarajan,
Can you simplify the query as somewhere not able to link it with the provisions.
Can you simplify the query as somewhere not able to link it with the provisions.
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