Special provision relating to determination of value of service of booking
of tickets for air travel by an air travel agent [Sub-rule (3)]
32
Value of service of booking of tickets for air travel by an air travel agent is 5% of
basic fare in case of domestic travel and 10% of basic fare in case of international travel can he take ITC on inputs on paying by above rates specified in Rule
Menu
ITC BY AIR TRAVEL AGENT
Replies (1)
yes he can avail ITC as there is no such exception like this in ITC related sections.
Also note that the rate of 5% /10% is not the rate of tax, it's the rate to compute the value of supply of air travel agent.
Also note that the rate of 5% /10% is not the rate of tax, it's the rate to compute the value of supply of air travel agent.
Recent Topic
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
Related Topics
CAclubindia
