set-off of service tax
This query is : Resolved
04 August 2007
sir,
i am an commission agent of readymade garment so mine income come under the service tax.so i have been levied upon three taxes sales tax income tax and service tax so sir can i get the benifit of getting setoff he serive tax against mine income tax.
i am an commission agent of readymade garment so mine income come under the service tax.so i have been levied upon three taxes sales tax income tax and service tax so sir can i get the benifit of getting setoff he serive tax against mine income tax.
04 August 2007
Never sir.
Sales tax is levied for sales only. In the capacity of commission agent how you can have sales tax?
If you do sales separtely try input credit permitted by State Act itself.
Service tax and income tax two different streams, former is indirect and latter is direct tax. You cannot set off.
In the absence of details of your turnover of last and current year I am not able to comment even the basic exemption available to you.
Sales tax is levied for sales only. In the capacity of commission agent how you can have sales tax?
If you do sales separtely try input credit permitted by State Act itself.
Service tax and income tax two different streams, former is indirect and latter is direct tax. You cannot set off.
In the absence of details of your turnover of last and current year I am not able to comment even the basic exemption available to you.
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