11 June 2011
We promote business of a foreign co. in india. The customers in India directly place the order on the foreign company and import the goods directly by remittance through L/C or TT. We get the difference in the foreign co's list price and the order value back by TT or get 5 commission. My query is whether we are a) liable to pay service tax on the amount thus recd. b) any income tax examption on foreign earnings?after what amount of foreign commission I am liable to income tax and what are other taxex.
CAclubindia
