Respected Seniors,
My Clients is a service provider of MTS Telecommunications, his basic activities are selling recharge coupon of Prepaid Mobiles for which he get commission and selling data card, mobile set and other telecommunications equipment of MTS. My client registered himself with Department of Value Added Tax and get the TIN no for his Purchase and Selling Activities. He is not registered himself with Service Tax as his yearly transaction of recharge coupon around 5 lacs below the prescribed limit of Rs. 10 lac.
For his fileing of Vat Return we are maintained Purchase and regular issuing Sale bill to customer, but my client not maintain any record for recharge coupon which he provide to prepaid customer, So my questions is whether my client need to maintain any record for recharge coupon? as we are not issue any bill to customer but we have to make payment to MTS through bank around 5 lac yearly. Please clarify the whole things, thanks in advance.
CAclubindia
