on profit shared for involving in value addition
This query is : Resolved
karunakara
(Querist)
12 August 2008
a product has been imported by one party (A)& the same is given to other party(B) for value addition for specific cost, service tax is paid on this cost component ,
as the same party distributes product in the market also. at the end of the year profit is shared between the two equally,
does this share of profit is subjected to service tax in the hands of B, if so who is held responsible for the payment A/B
Matter is very urgent please reply with proper reference.
as the same party distributes product in the market also. at the end of the year profit is shared between the two equally,
does this share of profit is subjected to service tax in the hands of B, if so who is held responsible for the payment A/B
Matter is very urgent please reply with proper reference.
S.Srinivasaraghavan
(Expert)
13 August 2008
What is the arrangement to share profit equally?
karunakara
(Querist)
13 August 2008
yes it is 50:50 both in marketing expense & net profit of (A)
Dhirajlal Rambhia
(Expert)
19 June 2023
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