Procedural compliances
This query is : Resolved
17 April 2013
A Proprietor is converting his business to PVT LTD Co. He is engaged in Export of Marketing Service. His Proprietorship firm was registered with Service Tax Authorities.
1)Whether Co is required to get register under service tax act? As Export of Service is exempt.
2)Whether Co is required to get separate Service Tax No? Can they continue with their old Service Tax No?
1)Whether Co is required to get register under service tax act? As Export of Service is exempt.
2)Whether Co is required to get separate Service Tax No? Can they continue with their old Service Tax No?
17 April 2013
Dear Varsha,
I think yes. you will have to take a new registration for the company and surrender the one for the propreitorship concern.
since export of Service is exempt, even reverse charge mechanism will not apply....however, you may register and keep. the only thing is that you will have to file nil returns.
- Ankit
I think yes. you will have to take a new registration for the company and surrender the one for the propreitorship concern.
since export of Service is exempt, even reverse charge mechanism will not apply....however, you may register and keep. the only thing is that you will have to file nil returns.
- Ankit
17 April 2013
Dear Ankit
What do you think about the status of the co? will it becomes Input Service Distributor?
If Yes they he have to get register himself right?
‘Input service distributor’ as defined under Rule 2 (m) of CENVAT Rules, 2004 means an office of the manufacturer or producer of final products or provider of output service, which receives invoices issued under rule 4A of the Service Tax Rules, 1994 towards purchases of input services and issues invoice, bill or, as the case may be, challan for the purposes of distributing the credit of service tax paid on the said services to such manufacturer or producer or provider, as the case may be.
What exactly means distribution of Input Service Tax?
Please Guide
What do you think about the status of the co? will it becomes Input Service Distributor?
If Yes they he have to get register himself right?
‘Input service distributor’ as defined under Rule 2 (m) of CENVAT Rules, 2004 means an office of the manufacturer or producer of final products or provider of output service, which receives invoices issued under rule 4A of the Service Tax Rules, 1994 towards purchases of input services and issues invoice, bill or, as the case may be, challan for the purposes of distributing the credit of service tax paid on the said services to such manufacturer or producer or provider, as the case may be.
What exactly means distribution of Input Service Tax?
Please Guide
17 April 2013
Dear Varsha,
Input Service tax is any service tax paid by you on any service, which is eventually used for the provision of final service.
say something like ST paid on phone bill etc.
but, this credit can be availed of only if the final service is taxable. since, the final service is not taxable, the credit cannot be taken....
if you have any further doubt please feel free to ask
Input Service tax is any service tax paid by you on any service, which is eventually used for the provision of final service.
say something like ST paid on phone bill etc.
but, this credit can be availed of only if the final service is taxable. since, the final service is not taxable, the credit cannot be taken....
if you have any further doubt please feel free to ask
17 April 2013
as i mentioned company is engaged in export of service following are the list of services he generally procures
1. Advertising
2. Air Travel Agent
3. Chartered Accountant
4. Courier Service
5. Credit Card, debit Card, Charge Card or other Payment Card related Service
6. Banking and Other Financial Service
7. Telecommunication
they what will be called as distribution of service so collected and will he be eligible to claim refund of input services
1. Advertising
2. Air Travel Agent
3. Chartered Accountant
4. Courier Service
5. Credit Card, debit Card, Charge Card or other Payment Card related Service
6. Banking and Other Financial Service
7. Telecommunication
they what will be called as distribution of service so collected and will he be eligible to claim refund of input services
17 April 2013
Unfortunately, he wont be able to take the credit since the export of service is not taxable.
since, the credit can only be adjusted against the service tax payable.
since in this case, ST wont be payable, credit cannot be taken..
but no services are provided in india???
since, the credit can only be adjusted against the service tax payable.
since in this case, ST wont be payable, credit cannot be taken..
but no services are provided in india???
17 April 2013
I am asking about refund/rebate of service tax paid by exporter of service
17 April 2013
Yes Varsha,
the rebate can be claimed, subject to the conditions of the service tax notification no 39/2012.
if you want, i can email you the notification.
the rebate can be claimed, subject to the conditions of the service tax notification no 39/2012.
if you want, i can email you the notification.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
