IATA air travel agent
This query is : Resolved
17 March 2009
How much amount is an IATA approved air travel agent liable to pay as service tax of a ticket?
Iata approved airlines (Air India,Jet,kingfisher)ticket has two components -
1.basic fare
2.taxes
Agent gets commission on basic fare.
Low Cost carriers (eg-Spice Jet,Indigo)gives transaction fee to agents.
Iata approved airlines (Air India,Jet,kingfisher)ticket has two components -
1.basic fare
2.taxes
Agent gets commission on basic fare.
Low Cost carriers (eg-Spice Jet,Indigo)gives transaction fee to agents.
17 March 2009
if airlines provide comission the 2 optios to pay service tax.
1. pay service tax@.618% of basic fare for domestic tickets & double i.e. 1.236 of BASIC FARE for intenational tickets
2. pay service tax@10.3% on commsision received from airlines.
on transaction fees received pay service tax@10.3% on transaction fees.
REMEMBER ; YOU RECEIVE COMMISION FROM AIRLINES GROSSED UP I.E INCLUDING SERVICE TAXSO TAKE THIS INTO ACOUNT
OPTION ONCE EXCERCISED MUST BR FOLLOWED FOR FULL FINANCIAL YEAR
1. pay service tax@.618% of basic fare for domestic tickets & double i.e. 1.236 of BASIC FARE for intenational tickets
2. pay service tax@10.3% on commsision received from airlines.
on transaction fees received pay service tax@10.3% on transaction fees.
REMEMBER ; YOU RECEIVE COMMISION FROM AIRLINES GROSSED UP I.E INCLUDING SERVICE TAXSO TAKE THIS INTO ACOUNT
OPTION ONCE EXCERCISED MUST BR FOLLOWED FOR FULL FINANCIAL YEAR
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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- TAN for Partnership
- Free lancer income
- REGARDING GST LIABILITY/....
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- GST ON DAMAGED GOODS
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
CAclubindia
