One of our customer recevies commission, cashdiscount and rebate. We collect service tax Bill for commission paid and deduct TDS, but for cash discounts & Rebates we are not collecting service tax bill from customer since our industry cannot take credit in service Tax.
Now the customer asks us to give as Payment of Interest for Cash Discount and Rebates amount. Our Industry is a paper Manufacturing Industry and can we do like that. If not in what other terminology other than Interest we can pay.
CAclubindia
