Service tax on commission received by real estate agent?
vinayak (-article assistant) (93 Points)
11 August 2014vinayak (-article assistant) (93 Points)
11 August 2014
Akshay Malpani
(CA - Partner MRO& Associates)
(120 Points)
Replied 11 August 2014
Originally posted by : vinayak | ||
1.Is service tax aplicable on for commission received by a real estate agent on sale of flats?if yes rate ? 2.what will be the implication in the hands of a service receiver if they received a service on which service tax was applicable but the service provider did not bifurcate the amount in the bill and the payment was made on the gross amount? |
Yes. @ 12.36%.
No implication as far as receiver is concerned. Since, the commission received by the agent will be deemed to be inclusive of service tax.