06 November 2015
I am an individual and have successfully cracked a export deal. I do not have any company incorporated neither I have any kind of export licenses or registrations. To complete my transaction I have taken help of my friend's Export-Import Company.
Now my question is, on what basis can I take my share of profit from the deal? If I take it as commission then will I be liable for service tax? How can I save tax on such transaction? Please help.
Thanks!
06 November 2015
If u take it as commission u have to pay service tax... I don't see any other option for u take the profits.. More over ur friend might have to deduct tds as well https://m.facebook.com/missingentry/
06 November 2015
He will get credit of service tax. Only if he is also having some service or excise duty other wise it will go down as expenditure. There is a possibility of getting refund also since it is related to exports.
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