CA SUDHIR HALAKHANDI (PRACTICING CHARTERED ACCOUNTANT) (13196 Points)
09 January 2009X SPORTS CLUB IS ORAGNISING A CRICKET TOURNAMENT FOR WHICH IT HAS RECEIVED A SPOSORSHIP OF RS. 3 LAKHS FROM TOBACO MAFG. COMPANY .
WHAT IS THE EFFECT OF THIS ON SERVICE TAX?
SIDDHARTHA SANKAR ROY
(Government Servant -MOF)
(868 Points)
Replied 09 January 2009
The only category under which the services as described by you could have been taxed is "Sponsership Service".Since in your case the sponsorship is received in relation to sponsorship of a sportsevent viz., a cricket tournament, would be out of the purview of servie tax as taxable service under this service does not cover sponserhsip of any sports event. The person receiveing the sponsership is liable to pay serviec tax under sponsership service
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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