Is purchase deduct from turn over
This query is : Resolved
17 October 2013
Dear Sir,
We are " Educational Training Institute." ( partnership firm - 2nd year ) we collect affiliation fee and other activities fee related to science projects. If our collection goes above 9.25 L . We are liable to take Registration of Service TAX? ( Last year TO is 7.5L ) Or purchase value is deducted from this collected amount and balance amount is liable to service tax.Is this correct or we take all amount in service tax?
Neha
Dear Sir,
We are " Educational Training Institute." ( partnership firm - 2nd year ) we collect affiliation fee and other activities fee related to science projects. If our collection goes above 9.25 L . We are liable to take Registration of Service TAX? ( Last year TO is 7.5L ) Or purchase value is deducted from this collected amount and balance amount is liable to service tax.Is this correct or we take all amount in service tax?
Neha
17 October 2013
Service tax is payable on value of service and no such purchase can be deducted
18 October 2013
Thank you sir,
But remain my question is that We collect 9.25 L and in that amount we took the bill from Mfg co. and mention to towards material amount in our invoice and given to Another party. So this material cost is our TO or only collection towards training cost is our TO? Please clarify it in detail.
Regards
But remain my question is that We collect 9.25 L and in that amount we took the bill from Mfg co. and mention to towards material amount in our invoice and given to Another party. So this material cost is our TO or only collection towards training cost is our TO? Please clarify it in detail.
Regards
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