Service tax liability
Querist : Anonymous
After quitting my Job,I started working as sales coordinator or Sales Agent for foreign company. I am responsible for sales promotion and gets agreed commission on the sale I do. My Job is limited to introduction of new customer & to get orders, rest all is directly handled by principle company & customer.I get commission on the invoice vale. Commission comes in foreign currency in bank which is credited to my account in INR as per prevailing exchange rate. Now my question is ,
1. Am I liable to pay Service tax on such commission income.
2. Do I have to registered myself or my company in Service Tax.
3. What's the upper limit of exemption for ST registration & payment of ST.
4. Is there any change for the exemption limit in current Budget.
Just for infm - My annual commission income in current financial year is less than 10 Lacs. No other income from any other source except SOME Bank Interests.
5. I have received some ADVANCE PAYMENT from my Principle for setting up office & other infrastructure in India (received during current financial year)for business promotion but due to recession in overall market I postpone this expansion program. Now my question is
a.Can I carry forward this amount in my IT return as advance received from Principle.
b. Do I have to pay any tax on this transfer received.
c.Can I put this advance amount in Fixed Deposit until this recession situation over.
d.What would be the tax liability on Interest Income from such FDR.
Shall wait for your advice on above. Thank you.
Querist : Anonymous
Click here to login now
Similar Resolved Queries
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR selection for salaries and capital gain less than L
- Reporting Income under Section 44ADA
- ITR 1: Details for showing Exempt Income
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- 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
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
