JANET ANJALIN J (CA Final) (231 Points)
17 July 2014When a person is receiving commission income for introducing clients to a bank. Does that receipt attracts service tax?
chamelee mane
(article)
(27 Points)
Replied 17 July 2014
Manoj Agarwal
(Service Tax Consultant Rourkela ServiceTaxExpert@yahoo.com)
(3456 Points)
Replied 17 July 2014
Take service tax registration when the commission receipts crosses Rs. 9 Lacs. Start collecting and paying service tax when the commission crosses Rs. 10 Lacs. If the aggregate value of taxable service provided in the preceding financial year exceeded Rs. 10 Lacs, then threshold exemption of Rs. 10 Lacs is not available.
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