25 April 2008
One of my Client is a Car Loan Dealer acting as a Commission Agent between ICICI Bank & Customers, for that he gets Commission from Bank Side on Loan Amount. The Bank made agreement stating inclusive all rates & Taxes , He never collects any service tax from customers whether he is liable to pay service tax and any other alternate to minimise his tax burden. whether the service tax is liable only on commission amount or loan amount. Please clarify... Thanks in Advance.
CAclubindia
