Service tax liability

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Querist : Anonymous

Querist : Anonymous (Querist)

17 March 2012 Dear Sir.

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

Querist : Anonymous (Querist)

26 March 2012 Sir could you please answer to my query !!

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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24 July 2025 https://docs.google.com/document/d/1NJ1yWBOk6NxEd_oa6UMht9xGIjV1zqzYVmP2YRyewfc/edit?usp=sharing

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