Your expert opinion is invited over the following issue:
“A firm in the business of publishing magazines. Whether service tax is applicable on the amount received against the sale of advertisement space in the magazine”
It may be worth mentioning here that the service of “Sale of Advertising Space or Time” specifically excludes the advertisement in print media. Also according to my interpretation of the law, the above firm does not fall in the category of an advertising agency since it is not creating any advertisement material.
I hope that the learned members will provide clarity on the above issue.
27 March 2012
there is no service tax charged on advertisement made on newspaper or for booking of space in the newspaper. but for booking of space in magazine is taxable and liable to service tax and there after the party making payment will deduct tds
CAclubindia
