query on service tax
This query is : Resolved
17 October 2007
M/s. xyz is partnership firm is commission agent rendering service to overseas manufacturing company (omc) in india on behalf of OMC based on the agreement executed in between OMC and comssion agent. the firm is receiving commission in convertable foreign exchange. whether the firm is liable to service tax or not? or to this firm export service credit rules applies.
thank you
jagan reddy
thank you
jagan reddy
17 October 2007
THE SERVICE TAX MATRIX FOR EXPORT OF SERVICES WEF 15 TH MARCH 2007 AND ONWARDS IS AS FOLLOWS.
1. SERVICE RENDERED IN INDIA AND PAYMENT IN INIAN CURRENCY IS TAXABLE.
2. SERV.RENDERED IN INDIA AND PAYMENT IN FOREIGN CURRENCY TAXABLE.
3. EXPORT OF SERV. OUTSIDE INDIA AND PAYMENT IN FOREIGN CURRENCY EXEMPT( CONDITIONS APPLY)
(SOURCE: DR. SANJIV AGARWAL'S ASSESSE'S GUIDE TO SERV. TAX -2006 EDITION.)
THE EARLIER EXEMPTION GIVEN FOR FOREIGN CONVERTIBLE CURERENCY RECEIVED IN INDIA WAS WITHDRAWN WEF MAR-05.
SO YOUR CASE FALLS IN ITEM 2 ABOVE AND TAXABLE.
EVEN UNDER BUSINESS AUX. SERVICES COMMIISSION AGENT IS COVEREDUNDER SEC 65(19) AND IT IS A TAXABLE SERVICE.
R.V.RAO
1. SERVICE RENDERED IN INDIA AND PAYMENT IN INIAN CURRENCY IS TAXABLE.
2. SERV.RENDERED IN INDIA AND PAYMENT IN FOREIGN CURRENCY TAXABLE.
3. EXPORT OF SERV. OUTSIDE INDIA AND PAYMENT IN FOREIGN CURRENCY EXEMPT( CONDITIONS APPLY)
(SOURCE: DR. SANJIV AGARWAL'S ASSESSE'S GUIDE TO SERV. TAX -2006 EDITION.)
THE EARLIER EXEMPTION GIVEN FOR FOREIGN CONVERTIBLE CURERENCY RECEIVED IN INDIA WAS WITHDRAWN WEF MAR-05.
SO YOUR CASE FALLS IN ITEM 2 ABOVE AND TAXABLE.
EVEN UNDER BUSINESS AUX. SERVICES COMMIISSION AGENT IS COVEREDUNDER SEC 65(19) AND IT IS A TAXABLE SERVICE.
R.V.RAO
17 October 2007
THE SERVICE TAX MATRIX FOR EXPORT OF SERVICES WEF 15 TH MARCH 2007 AND ONWARDS IS AS FOLLOWS.
1. SERVICE RENDERED IN INDIA AND PAYMENT IN INIAN CURRENCY IS TAXABLE.
2. SERV.RENDERED IN INDIA AND PAYMENT IN FOREIGN CURRENCY TAXABLE.
3. EXPORT OF SERV. OUTSIDE INDIA AND PAYMENT IN FOREIGN CURRENCY EXEMPT( CONDITIONS APPLY)
(SOURCE: DR. SANJIV AGARWAL'S ASSESSE'S GUIDE TO SERV. TAX -2006 EDITION.)
THE EARLIER EXEMPTION GIVEN FOR FOREIGN CONVERTIBLE CURERENCY RECEIVED IN INDIA WAS WITHDRAWN WEF MAR-05.
SO YOUR CASE FALLS IN ITEM 2 ABOVE AND TAXABLE.
EVEN UNDER BUSINESS AUX. SERVICES COMMIISSION AGENT IS COVEREDUNDER SEC 65(19) AND IT IS A TAXABLE SERVICE.
R.V.RAO
1. SERVICE RENDERED IN INDIA AND PAYMENT IN INIAN CURRENCY IS TAXABLE.
2. SERV.RENDERED IN INDIA AND PAYMENT IN FOREIGN CURRENCY TAXABLE.
3. EXPORT OF SERV. OUTSIDE INDIA AND PAYMENT IN FOREIGN CURRENCY EXEMPT( CONDITIONS APPLY)
(SOURCE: DR. SANJIV AGARWAL'S ASSESSE'S GUIDE TO SERV. TAX -2006 EDITION.)
THE EARLIER EXEMPTION GIVEN FOR FOREIGN CONVERTIBLE CURERENCY RECEIVED IN INDIA WAS WITHDRAWN WEF MAR-05.
SO YOUR CASE FALLS IN ITEM 2 ABOVE AND TAXABLE.
EVEN UNDER BUSINESS AUX. SERVICES COMMIISSION AGENT IS COVEREDUNDER SEC 65(19) AND IT IS A TAXABLE SERVICE.
R.V.RAO
17 October 2007
I HAVE A REQUEST FOR ALL OUR CA CLUB FORUM MEMEBERS THAT AS THE QUERIES ON SERV. TAX ARE NOT GETTING PROMPT REPLIES AS IS THE CASE ON COMPAY LAW, INCOME TAX ,AUDIT AND FINANCE ISSUES,I HUMBLY APPEAL TO ALL LEARNED FRIENDS TO KINDLY RESPOND TO SERV. TAX QUERIES ALSO AS EARLY AS POSSIBLE.
REGARDS,
R.V.RAO
REGARDS,
R.V.RAO
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