12 July 2011
There is no service tax on trading of SIM/recharge coupons. It attracts VAT. But if you provide the service as commission agents of telecom company such services attracts service tax.
13 July 2011
If there is profit from the business then you are liable for income tax. Under service tax there is no service tax on trading of SIM card but it depends on the rate of VAT in which State you are located. VAT rates are not same in all the states. Check the VAT rates of your State.
CAclubindia
