Taxable value: sale of ticket on discount

This query is : Resolved

Yash Mehta (Querist)
Follow

09 January 2017 Hi,

What will the Taxable value of Ticket sold on Discount:

For Eg: IPL Ticket Price: 5000
Discount: 500
Amount Received- 4500
Service Tax- ???

Sandeep Dharar

Sandeep Dharar (Expert)
Follow

10 January 2017 Service tax is charged on services provided. So as per me there is no service in IPL tickets. So better not to charge Service tax. And there is a limit of turnover of 10L, above which u need to charge ST on the services.

Yash Mehta

Yash Mehta (Querist)
Follow

10 January 2017 Hi,
Sir Service Tax is applicable on Tickets above Rs.500.

Upgrade to CAclubindia Pro. Subscribe Now!