we are and indenting house representing many overseas cos and sell their metals scraps products to indian importers and users.
We get commision from our overseas prinicpals in usd which gets credited in our bank.
100% of our commission recd is in foreigh currnecy.
Is service tax applicable if total recp is abv 10lakhs.
Sanjay shah
This service was upto 1.7.2012 based on where the recepient was based. Serveal Tribunal judgments concurred. However recently in the micorsoft case there has been a dissent. As of now it appears that there is no liability as it shouldbe considered as an export.
Post 1.7.2012 also in my view this would not be liable and considered as exprt. maybe it is advisable to keep the revenue informed of your view.
CAN ANYONE PLS GV UPDATES ON ABV QUERY & ABT STATUSCO IS APPLICABLE FROM WHICH DATE AND UNDER WHICH CIRCULAR
CAclubindia
