A goods transport operator (Goods transport through Air) get a franchiee of a courier company. whenever he got any order, he booked order in the name of courier company and courier company pay coomission (directly credited in bank account) to him for order booked by goods transport operator. i wanted to know what the treatment of commision received, whether any abatement available and how we present in books??
Menu
Taxable amount for specified services
Replies (2)
Transport of Goods by Air Service & Franchise Service are two different services. Where you are in receipt of commission for franchise service provided by you, provisions applicable to this class of service only will apply on commission so received. As per my knowledge, no abatement has been specified in case of Franchise Services, so far.
Moreover, no abatement seems to be available in case of Transport of Goods by Air Service also.
As far as presenting the same in books is concerned, Commission on Franchise Service will be presented as an additional source of income on the same line as in case of air fare charged for Transport of Goods by Air Service.
thanx a lot Mr. Prabhat.
Recent Topics :
- LTCG: Home Loan Principal Repayment?
- Ims action relationship query
- GIFT REGARDING
- TDS on salary to non resident managing director
- Ewaybill and Transport documents (Lorry receipt)
- LTCG on sale of Builder Buyer Agreement
- Rule 13(2)(h) and valuation of CCDs
- Leave encashment, New labour code, Management cadr
- GST clarification needed:
- TDS processed with short deduction default
Related Topics :
CAclubindia
