22 October 2008
WE ARE A LIMITED COMPANY AND RECEIVING DISPLAY INCOME FROM PARTIES. WE ARE REGISTERED FOR DISPLAY SERVICES UNDER SERVICE TAX ACT. MY QUERY IS SUPPOSE WE RECEIVE DISPLAY INCOME OF rS. 50000 FROM PARTY AND WE HAVE TO DEPOSIT SERVICE TAX ON THIS DISPLAY INCOME . CAN WE CONSIDER THIS RECEIPT INCLUSIVE OF SERVICE TAX AND BOOK DISPLAY INCOME NET OF SERVICE TAX PAYABLE AND BOOK SERVICE TAX PAYABALE AS WELL . OR WE WE WILL HAVE TO DEPOSIT SERVICE TAX OVER AND ABOVE THIS 50000/-. PLEASE GIVE THE REFERENCE OF SOME BOOK OR GUIDANCE NOTE ON THE SAME IF ANY.
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