St & vat
This query is : Resolved
24 April 2014
Mr. X is a distributor of SIM Cards, RCVs, etc. He is filing service tax returns against these items. Is he liable to pay VAT on these items?
25 April 2014
IT IS EXEMPTED SERVICES AS PER NOTIFICATION 25/12-ST
FILE NIL RETURN AND APPLY EXEMPTED SERVICE AND NOTIFICATION NO & LINE NO 26(F)
AS PER NOTIFICATIONS
29. Services by the following persons in respective capacities -
(a) sub-broker or an authorised person to a stock broker;
(b) authorised person to a member of a commodity exchange;
(c) mutual fund agent to a mutual fund or asset management company;
(d) distributor to a mutual fund or asset management company;
(e) selling or marketing agent of lottery tickets to a distributer or a selling agent;
(f) selling agent or a distributer of SIM cards or recharge coupon vouchers;
(g) business facilitator or a business correspondent to a banking company or an insurance company, in a rural area; or
(h) sub-contractor providing services by way of works contract to another contractor providing works contract services which are exempt;
FILE NIL RETURN AND APPLY EXEMPTED SERVICE AND NOTIFICATION NO & LINE NO 26(F)
AS PER NOTIFICATIONS
29. Services by the following persons in respective capacities -
(a) sub-broker or an authorised person to a stock broker;
(b) authorised person to a member of a commodity exchange;
(c) mutual fund agent to a mutual fund or asset management company;
(d) distributor to a mutual fund or asset management company;
(e) selling or marketing agent of lottery tickets to a distributer or a selling agent;
(f) selling agent or a distributer of SIM cards or recharge coupon vouchers;
(g) business facilitator or a business correspondent to a banking company or an insurance company, in a rural area; or
(h) sub-contractor providing services by way of works contract to another contractor providing works contract services which are exempt;
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