Duty drawback
This query is : Resolved
08 March 2013
hello can anyone tell me that the Duty Drawback Received by an Exporter to be considered as Taxable Income?
08 March 2013
Dear Sonia,
Yes. it is to be treated as business income under section 28 (iiic) of the Income Tax Act, 1961
- Ankit
Yes. it is to be treated as business income under section 28 (iiic) of the Income Tax Act, 1961
- Ankit
09 March 2013
Ankit one more thing i would like to ask you, if suppose a person has hired a vehicle from tours ant travels from mumbai to jaipur, and the bill amount is 23400, so iz dat individual liable to make the service tax payment and also iz she liable to deduct the TDS and pay the same to the govt.? reply asap its urgent matter
09 March 2013
Sonia,
yes...Service tax payment is to be made.
as far as TDS goes, it needs to be checked whether he will be considered as a contractor...
if yes, then TDS will apply...
yes...Service tax payment is to be made.
as far as TDS goes, it needs to be checked whether he will be considered as a contractor...
if yes, then TDS will apply...
09 March 2013
Ankit,
Is service receiver has to make the payment of service tax to the govt. on the basis of reverse charge mechanism?
Is service receiver has to make the payment of service tax to the govt. on the basis of reverse charge mechanism?
09 March 2013
Sonia,
I dont think that in your case reverse charge mechanism will apply since reverse charge mechanism applies only in the case of Goods Transport Agency...since in your case, it is passenger transport, i dont think reverse charge would apply....
If you have any other queries, please feel free to ask..
- Ankit
I dont think that in your case reverse charge mechanism will apply since reverse charge mechanism applies only in the case of Goods Transport Agency...since in your case, it is passenger transport, i dont think reverse charge would apply....
If you have any other queries, please feel free to ask..
- Ankit
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
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Applicability of GST on Salary Reimbursement Component
- Dep. as per companies act
- Minimum tax payable to file Updated return
- New GST registration for new place of business.
- SALARY CAN BE CAPITALIZE
- FAST-DS Scheme - Foreign Assets
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- 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
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
Quick Links
Featured
11 September 2026
Audit Executive
RBSM Corporate Advisors Private Limited
Pune
CA
View Details
CCI
Pro
CAclubindia
