05 April 2008
Respected sir, i am having a query regarding the sale to franchaisee, the details are as follows. Rs. 1. sale 100000 less: vat @ 4% / 104 4000 Net sales 96000
7% comm on net sale 6720 service tax on comm 831 reimbursement 80000 octroi 2000 total deduction 89551
net recievable 6449 (i.e. net sales - total deductions)
further clarifing that the above amount we are recieving per month from franchaisee. with the above information i want to know that 1. is it service tax is chargable on 7% commission & if it is yes than under what service head. 2. is i have to deduct tds on Rs. 80000/- monthly reimbursement.
CAclubindia
