Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: form 3cd :: VAT RATES :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: cpt :: TDS :: due date for vat payment :: list of goods taxed at 4%
 
 
« Service Tax »
 Payment made in revenue sharing deal exempt from service tax
 India seen posting stronger growth as businesses adjust to new tax
 GST High Powered Committee On Return Filing - Representation by GST Research Foundation
  Changes In Central Goods And Services Tax Rules, 2017
 GST return filing to be a breeze for small businesses
 Changes In Central Goods And Services Tax Rules, 2017
 Simple tax made complex
 Govt may review monthly GST return filing process
 Central Goods and Services Tax (Eleventh Amendment) Rules, 2017
 Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017
 Composition Scheme - the Central Goods and Services Tax (Removal of Difficulties) Order, 2017

Amfi frames method for MF agents service tax deduction
June, 12th 2015

In a relief to mutual fund distributors, industry body Amfi has put in place a new computation method that will help in reducing their service tax payments.


Mutual fund distributors are required to pay service tax from the commissions earned by them.

“Amfi has framed a computation method of service tax deduction which reduces net service tax payout to Rs 12.28 on every Rs 100 paid as commission to distributors,” a member of the industry body said.

“The gross service tax is 14 per cent but the net service tax payout comes down to 12.28 per cent through this method,” he added.

In case a distributor is entitled to get Rs 100 and service tax is 14 per cent, then tax will be calculated as net service tax payout = commission payout u2013 commission payout X gross service tax rate/commission payout + service tax.

In other words, the net commission payout works out to Rs 87.72 (Rs 100-Rs 12.28) instead of Rs 86.
The service tax on mutual fund distributors came into effect from June 1, 2015.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions