S.Jeyendran (Student of CA Final Course) (207 Points)
30 April 2008Dear Friends,
Please clarify on the below issue
A Forwarder received USD 1000 from a shipper who had given his shipment for export from India. He paid USD 800 as freight to the Main Line Operator (MLO) and retained USD 200 as consideration for the shipment. Is the amount of USD 200 will attract service tax?
Regards
S.Jeyendran
prabhat
(chartered accountants)
(24 Points)
Replied 07 May 2008
service tax shall be payable if the receipt by the person exceeds rs 10,00,000 during the financial year 2008-2009.
Hari Venkata Ramana
(M.Com, AICWA)
(124 Points)
Replied 15 May 2008
service tax is payable under new composition scheme @ 0.25% on turnover of the money lender, money changers and FE agents. I am not sure this will apply to your case.
Mehul
(Asst. Manager Accounts)
(32 Points)
Replied 17 May 2008
CAclubindia
