Valuation
This query is : Resolved
ANIMESH PANDEY
(Querist)
13 January 2017
Dear Sir ,
We are running the franchisee of a famous Gym Co. The Gym Company has provided us some coupon to be distributed to the members of the Gym . We Pay service tax on membership fees we received from members.
Now my question is whether the value of cash coupon to be deducted from the membership fees we received from members for calculating Service tax ?
Pls do provide the reference of related rule .
urgent
We are running the franchisee of a famous Gym Co. The Gym Company has provided us some coupon to be distributed to the members of the Gym . We Pay service tax on membership fees we received from members.
Now my question is whether the value of cash coupon to be deducted from the membership fees we received from members for calculating Service tax ?
Pls do provide the reference of related rule .
urgent
CA Suresh Jain
(Expert)
14 January 2017
The fee which you are receiving from the members is chargeable to tax. If the money against the coupon is also reimbursed to you by the Company than same also shall be chargeable to Service tax
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