CAclubindia

MJ Krishnamurthy's Expert Profile

Queries Replied : 1703

About me

I am a retired Assistant Commisioner of Commercial Taxes of Karnataka. I retired in 1998 at the age of 58.During this service I tried to go in detail about sales tax laws. Immeadiately after retirement some companies wanted to retain me as their consultant. That is how my touch with the subject of VAT laws continued.The website of CAclub india is giving a good opportunity to share my knowledge with others. I am an exserviceman from IAF. So, Iam a little different from other taxmen. We should do some service to the community that has offered us so much, That is my purpose.....Bye.

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MJ Krishnamurthy says :
Mr Majunath, You have to register as a normal drug and medicine seller.When you are buying goods from other states you have to go for VAT only...mjk

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gaurav bothara says :
sir how to deal with this situation goods are purchase within state @ 4% vat and sold within state @0% vat. is input tax credit available? (nothing is given about export sale or sez sale )

binny says : service tax on commission received in USD
Dear Sir I read your expert comments. I have some query regarding service tax applicability on commission received in US dollars from a foreign company. Pl. see if you can comment. An Indian REP. company is procuring orders for foreign principal company from Indian customers. The Indian customers place their orders directly on the name of Foreign principal company. The Indian REP company is not buying and selling. The whole process is like this: 1) The enquiries of Indian customers are issued on the name of foreign supplier. These are sent to Indian company or even directly to foreign company. 2) The Indian REP. advises foreign company to make the offer sheet directly to foreign company keeping his margin/profit included in the offer sheet. 3) The Indian customer places the order and payment directly on that price of the offer sheet directly on the name of foreign company. 4) After the order execution by the foreign company , the foreign company remits the margin/profit to Indian rep. in USD. This profit varies on each order. Please advise service tax applicability in this scenario. Best Regards Binny

binny says : service tax on commission received in USD
Dear Sir I read your expert comments. I have some query regarding service tax applicability on commission received in US dollars from a foreign company. Pl. see if you can comment. An Indian REP. company is procuring orders for foreign principal company from Indian customers. The Indian customers place their orders directly on the name of Foreign principal company. The Indian REP company is not buying and selling. The whole process is like this: 1) The enquiries of Indian customers are issued on the name of foreign supplier. These are sent to Indian company or even directly to foreign company. 2) The Indian REP. advises foreign company to make the offer sheet directly to foreign company keeping his margin/profit included in the offer sheet. 3) The Indian customer places the order and payment directly on that price of the offer sheet directly on the name of foreign company. 4) After the order execution by the foreign company , the foreign company remits the margin/profit to Indian rep. in USD. This profit varies on each order. Please advise service tax applicability in this scenario. Best Regards Binny