Neeraj (Works at Nestle) (51 Points)
11 May 2014wht would be the Service tax Implications on a resident Individual when he's recieving payment from a foreign Co. outside india in his account on issuing a monthly service contract invoice.?
Rashmi
(CA Final Student)
(137 Points)
Replied 14 May 2014
Dear Neeraj,
By virtue of general Rule 3 of Place of Provision of Service Rules, 2012, if service recipient is located in taxable territory, then service will deemed to be provided in taxable territory and service tax shall be payable thereon.
Conversely, if the service provider is located in the taxable territory but the recipient is located in the non-taxable territory, then service tax shall be not be leviable on such services as its consumption is outside India.
However, this may not be an exact answer, you need to elaborate the nature of services rendered by the resident individual in your case so as to ascertain if service tax will be levaible or not.
JMS
(DY.MANAGER -COMMERCIAL)
(110 Points)
Replied 17 May 2014
If you are providing taxable service, get ST registration and you are liable for service tax after crossing your turnover limit of Rs.10 Lakhs. If the aggregate value is within the said limit, no tax is required to pay. Non-taxable concept is not applicable to outside india.
Regards,
JMS
Neeraj
(Works at Nestle)
(51 Points)
Replied 02 June 2014
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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