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Audit fee

oasis (service) (81 Points)

21 January 2014

Please let me know whether service tax is payable on audit fee cost charged by cooperative department for the audit of cooperative societies..

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4 Replies

CA Gyati Gupta (In Practice) (8227 Points)
Replied 22 January 2014

sir

-as far as i i know, a co-operative society is nowhere mentioned under the negative list consisiting of 17 declared services, on which service tax is not chargeable.

-under such a case, service tax should be deducted while charging audit fee.

CA Gyati Gupta (In Practice) (8227 Points)
Replied 22 January 2014

Services ,if are provided by organizations registered as non-profit entities under the Income Tax Act 1961 (DTC 2012) in matters relating to public and social welfare activities substantially at or below the costs (excluding health & education), then service tax will not be applicable