accounting of call centre
This query is : Resolved
13 November 2010
i am running a call centre of japanese client. and received a sum of rs. 1245000/-
for the service provided.
is service tax applicable for the same? what is procedure for?
which form of ITR is applicable for these services and how to maintain account i.e maintained P&l a/c or B/s.
is any body provide sample of balance sheet & Profit & loss account for same.
thanks
for the service provided.
is service tax applicable for the same? what is procedure for?
which form of ITR is applicable for these services and how to maintain account i.e maintained P&l a/c or B/s.
is any body provide sample of balance sheet & Profit & loss account for same.
thanks
14 November 2010
Hi,
you must pay service tax.Also go thru the agreement of service you have with call centre.f u are billing charge service tax to call centre & deposit regularly.
P & L /B Shhet ,Take help of consultant/professional.
you must pay service tax.Also go thru the agreement of service you have with call centre.f u are billing charge service tax to call centre & deposit regularly.
P & L /B Shhet ,Take help of consultant/professional.
Message likes :
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15 November 2010
For yur kind information you have to file ST-3 insted of ITR under service tax act.you have to pay service tax .
15 November 2010
i am working for my client, not for self and receive a sum for this work. so in my mind the service tax is not to be deposited by me. your's view?
15 November 2010
You are the service provider you have to charge the sevice tax in your invoce and recover from your client and the same should be deposite quaterly.
15 November 2010
@Somu First & for most you have to maintain the books of account, which shall be used both for Service tax & income tax purpose.
You are liabile for Service tax as your gross receipts exceeds Rs lakhs. This is not a cost for you, As Mr.Nitin said you will be collecting it from your customer & pay it to Service tax department. REMEMBER that Service tax is payable on Receipt basis, inother wordsservice tax is payable at the time of collection of money from your customer. Payment shall be made on or before 5th of next month (collection).
Whereas Income tax shall be payable based on the total income from all the sources of income during one full year april to march.
@Nitin - Payment of service tax shall be made on or before 5/6 of succeeding month ?
You are liabile for Service tax as your gross receipts exceeds Rs lakhs. This is not a cost for you, As Mr.Nitin said you will be collecting it from your customer & pay it to Service tax department. REMEMBER that Service tax is payable on Receipt basis, inother wordsservice tax is payable at the time of collection of money from your customer. Payment shall be made on or before 5th of next month (collection).
Whereas Income tax shall be payable based on the total income from all the sources of income during one full year april to march.
@Nitin - Payment of service tax shall be made on or before 5/6 of succeeding month ?
16 November 2010
Dear,
first you go thru the agreement .If it is with service tax clause ? othervise make invoicing in gross pattern & deposit.
first you go thru the agreement .If it is with service tax clause ? othervise make invoicing in gross pattern & deposit.
16 November 2010
i am servicing for japanese companies so i have not right to make bill at any point. i am doing work for the same companies. in this case what to do?
16 November 2010
Whether you are a consultant or Employee?
If you act as an employee, you cannot invoice to them, onthe other hand if you are a consultant, you can issue the bills. Even if the compnay does not pay the service tax amount, you are supposed to pay Service tax, by reverse calculation method.
For Eg.if the bill amount is Rs110.30 (being Rs100 + 10.30 as ST) & the customer pays only Rs100/- in full & final settlement, then Rs (100*10.30)/110.30 =9.35 is ST & balance Rs.99.65 is your income.
If you act as an employee, you cannot invoice to them, onthe other hand if you are a consultant, you can issue the bills. Even if the compnay does not pay the service tax amount, you are supposed to pay Service tax, by reverse calculation method.
For Eg.if the bill amount is Rs110.30 (being Rs100 + 10.30 as ST) & the customer pays only Rs100/- in full & final settlement, then Rs (100*10.30)/110.30 =9.35 is ST & balance Rs.99.65 is your income.
16 November 2010
If you cannot raise invoice,You can be employee.Please give your status & write me,
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