Cash Discounts
This query is : Resolved
28 October 2009
I wanted to know whether Cash Discounts received from a Vendor is subject to Service Tax. Kindly also advice the relevant section.
Thank you in advance.
Thank you in advance.
28 October 2009
No. Cash discount received is not to be subjected to service tax as cash discount is just an incentive for encouraging on time payment and service tax is to be paid only on actual realisation basis.
Section 67(3):" The gross amount charged for the taxable service shall include any amount received towards the taxable service before, during or after provision of such service".
Section 67(3):" The gross amount charged for the taxable service shall include any amount received towards the taxable service before, during or after provision of such service".
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