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
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