I have a proprietorship firm. under this firm I am running a business of being a franchisee for leading Institute in India of student training. my annual turnover is more than 9 lakh. but while collecting the fees from student i am providing the receipt to student of service tax paid. receipt has been generated with franchisor name. all collected money is getting deposited in frachisor bank account where my franchisor deduct service tax amount his share and then divert my share to my account. my franchisor is paying this service tax to government.
the share that i am getting from my franchisor is more than 9 lakh, does i need to register for service tax? does i have to pay service tax on my share?
CAclubindia
