Hi.. I want to know of applicability of service tax on following..
My company has paid Rs. 10,50,000/- to a USA based company as 1st Instalment for Technical Knowhow for Machine Designs....
Whether it is an Import of Service ??? Whether Service Tax is required to be paid out on this amount ????
Dear Member
I want to know the procedure for filling st ret. while i have had already regn no.
Dear Pryanka,
Yes the service appears to fall under IPR services. The only aspect to be confirmed is whether the same could be said tobe goods. If so then the liability under service tax would cease.
as per my knowledge this transaction attract the custom duty not service tax
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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