Payment of service tax
This query is : Open
24 February 2016
sir one of my frnd carrying a business of sim card sales, charging of mobile currency.his turnover is more than 10,00,000/- while he purchase the sim cards or mobile currency the supplier charged the service tax. but since two year he didnt payed any service tax..how he can pay previous two years service tax..wheather any penalty or interest is there on such payment..plz guid me in this regard..
24 February 2016
Services by selling agent or a distributer of SIM cards or recharge coupon vouchers is covered by Mega Exemption Notification No. 25/2012-ST S. No. 29(f). Hence, your friend need not to take registration and pay taxes under service tax law. The tax has already been paid on gross amount by Telecom.
24 February 2016
thank you sir...sir i want to ask wheather his income is calculated u/s 44AD..
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