Taxability vat/service tax on sale of gift voucher
This query is : Resolved
18 January 2016
Dear Expert,
Kindly assist me on following issue:
Suppose an agent purchases gift vouchers (multipurpose voucher) having value of Rs. 2000 each from Flipkart @ Rs.1800 and sold the same to company at @ Rs. 1900. Company distribute those gift voucher having value of Rs. 2000 each to its employee on some occasion and The gift voucher gives right to employees to claim them at Flipkart.com for shopping value of Rs. 2000 for any goods/services.
Now my query is,
1.What would be the taxability of tax (service tax/ VAT) on agent hands who earn Rs. 100 margin ?.
2. Further, Agent do not disclose the margin money to customer hence how to invoice the same to customers ?
Thanks in Advances !
Kindly assist me on following issue:
Suppose an agent purchases gift vouchers (multipurpose voucher) having value of Rs. 2000 each from Flipkart @ Rs.1800 and sold the same to company at @ Rs. 1900. Company distribute those gift voucher having value of Rs. 2000 each to its employee on some occasion and The gift voucher gives right to employees to claim them at Flipkart.com for shopping value of Rs. 2000 for any goods/services.
Now my query is,
1.What would be the taxability of tax (service tax/ VAT) on agent hands who earn Rs. 100 margin ?.
2. Further, Agent do not disclose the margin money to customer hence how to invoice the same to customers ?
Thanks in Advances !
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- ITDS U/S.194T of Firm
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- GST not cancelled by tenant
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Invertaded duty struture
- FORM 141 SDV query
- Eway bill not cancelled within 24 hous what can be due
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- CREDIT NOTES WITHOUT GST
- Taxable or Tax exempt
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
