Services provided by non executive directors
This query is : Resolved
21 September 2012
Whether company is liable to pay service tax on services provided by non exec director, under Reverse charge mechanism, where the director issues invoices which the company account for as professional fees and deduct TDS under sec 194J ?
21 September 2012
Yes, company is laible to pay service tax on services provided by non-executive directors, ie. independent directors. For all remuneration paid to them, company has to pay service tax under reverse charge and can take cenvat credit on such payments to adjust in the output service tax. Service tax need not be deducted and only tds is deducted.
21 September 2012
Thanks Sir. But the company is already deducting TDS u/s 194J towards payment for professional fees. Even then do company need to pay service tax under reverse charge ?
21 September 2012
yes, from 01.07.12, such services attract both and hence it has to be paid to income tax and service tax dept.
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