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.
08 April 2008
The Commission is for sale of goods in the shop of franchaisee. The reimbursement is for the minimum guarantee we have to pay at the end of every month.
08 April 2008
The Commission is for sale of goods in the shop of franchaisee. The reimbursement is for the minimum guarantee we have to pay at the end of every month.
CAclubindia
