would anyone tell me that sales & collection service to financial institutions & insurance companies comes under which service head under service tax.....thnks
AMIT AGARWAL (learner) (114 Points)
26 March 2010would anyone tell me that sales & collection service to financial institutions & insurance companies comes under which service head under service tax.....thnks
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2998 Points)
Replied 26 March 2010
Commission received from Banks & Insurance Companies shall be liable to service tax.
regards,
ratan
AMIT AGARWAL
(learner)
(114 Points)
Replied 26 March 2010
but i am asking under which head...whether business auxillary services or any other head...
Chintan Vasa
(CA Final Student M.Com)
(1241 Points)
Replied 26 March 2010
From the information available i can say that the service provided shall fall under the category of Business Auxiliary Services. For more clarity refer section 65 (19) of the Finance Act, 1994
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
