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Service tax on commission income
we are doing commission agency business. Our annual Commission more than 1 crore. We are receiving Commission once in 6 month.
Now we are paying Service tax monthly raising commission bills.
my question is we are receiving commission 6 months once, so, can we pay Service tax at the time of receive the service tax payment?
Replies (2)
If taxable service is <=Rs.50 lacs in the PY, then there is option to pay ST on receipt basis upto Rs.50 lacs of turnover in the CY (for individuals/firms). But in your case, this option is not applicable. Hence I think you will have to pay ST on the basis of invoice.
Agreed with poornima
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