Service tax on resort/ club membership fees
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 May 2014
A Firm collects life membership fees say Rs 1,00,000. The fees so collected is recognized as revenue over a period of 25 years as per agreement of membership. Now, on what amount service tax is to be paid. Is it on entire amount of Rs 1,00,000 or on the amount which is recognized as revenue ie on Rs 4,000 (Rs 1,00,000/25 years)
17 May 2014
It will b collected on the whole amount.
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