Purchase or commission

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

24 October 2011 I have Vodafone distributorship, company is giving us Recharge coupon including service tax i.e company is giving Rs. 5000 coupan @ 100 in Rs.48150/- means Purchase 48150/- & sales 50000/- or take as commisssion Rs. 1850/- ????

I also give 50% or more to local retailers of my area in commission or 1 to 1.25% ?

what kind of treatment I need to do ?

Do I consider as purchase/sales and take that amount in VAT return ? or treat as commission and file st return only ??

Ravikant

Ravikant (Expert)
Follow

27 October 2011 it can be considered as incidental commission for distribution : file ST return

Querist : Anonymous

Querist : Anonymous (Querist)

28 October 2011 Thanks Ravikant sir,

I would like to ask 3 things more....pls

1). in which category I have to file ST return ?
2). file with net commission or gross ?
3). How to calculate ne commission income(1850-1250 retailer)=600 ??

any other things you would like share it Pls guide me

thanks again.

Upgrade to CAclubindia Pro. Subscribe Now!