Travel agent commission
This query is : Resolved
22 April 2015
Our IATA agent is giving us commission of Say Rs 500 but on this he is deducting(Holding) Service Tax of Rs 55 i.e. Rs 500*12.36/112.36=Rs 55 and showing commission on invoice Rs 445 and on this Rs 445 Service Tax @12.36% comes to Rs 55.
This Rs 55 he will give us when we will raise invoice.
So what should be our commission income, is it Rs 500 or Rs 445.
Please guide.
This Rs 55 he will give us when we will raise invoice.
So what should be our commission income, is it Rs 500 or Rs 445.
Please guide.
22 April 2015
your commission income is rs 445 and service tax on this is 55
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