Levy of Service Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 November 2010
I am 'individual' person, expecting total service of around 15 Lacs next year. Now to avoid service tax payment.
I am planning to be open partnership firm with my friend beyond my individual name.
The services will be provided from individual and 2nd from partnership firm, having the income around 7.5 lacs each.
Is this valid step?
I am planning to be open partnership firm with my friend beyond my individual name.
The services will be provided from individual and 2nd from partnership firm, having the income around 7.5 lacs each.
Is this valid step?
Tilak Agrawal
(Expert)
13 November 2010
Dear Anonymous
The Tax planning you have thought is perfectly OK as it contains nothing illegal.
The Tax planning you have thought is perfectly OK as it contains nothing illegal.
CA.Madhusudan B.P.
(Expert)
13 November 2010
Even If you registered with Service tax department, there is nothing wrong.
If you registered, you can avail the input service tax & pay the output service tax after adjusting the input credit.
You are acting as a agent to the government of India, inthe sense that what ever you charge in your bill shall be paid when you collect the money from your customer. (It is not your expenses)
Service tax is an Indirect tax.
If you registered, you can avail the input service tax & pay the output service tax after adjusting the input credit.
You are acting as a agent to the government of India, inthe sense that what ever you charge in your bill shall be paid when you collect the money from your customer. (It is not your expenses)
Service tax is an Indirect tax.
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