gross turnover

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..... gross turnover
Query (Issue) Started By: - d.v. gupta Dated:- 4-1-2011 Last Reply Date:- 28-6-2011 Income Tax
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Income Tax
we are carrying business of tour and travels. we purch .....

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..... ase air tickets and package for our customer. the vendor pays us commission on purchase of tickets and packages. my question is whether my gross turnover will be sale value or only commission. suppose .....

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..... we purchase air ticket for Rs. 100000 and pays Rs 98000 . Rs 2000 is our commission. what will be our gross turnover for tax audit purposes.Rs 2000 or Rs 100000.00 Reply By Surender Gupta: The Reply .....

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..... : Either you pay service tax on commission portion at the rate of 10% or you may opt to pay service tax at composition rate at 0.6% or 1.2% on the gross value of Rs. 100000/- as prescribed under rule .....

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..... 6(7) of service tax rules, 1994, if your service qualifies to be air travel agent services.
Discussion Forum - Knowledge Sharing .....

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