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Service Tax RegistrationNo. of comments:1 Gaurav Kansal, Delhi, 57491 On 27-May-2016

As you all are aware of AMC have started asking for a monthly bill for commission and more with service tax registration. my query is that 1)Do we need to submit the same every month or their is a option to submit the same yearly 2) As most of the distributors does not earn more then 10 lac then how can they provide the Service Tax Registration Number 3) What are the consequences if any distributor doesn't submit the bill 4) Distributor need to Submit the Service Tax bill to all AMC's I hope most of the Distributors are facing this problem please find a solution so that we all can be benifited

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Comments Posted

K V Raghupathi ARN NO :32347 Shimoga, 02 Jun 2016

My advise to IFAs is not to generate the bill with addition of service tax into brokerage earned, till they enjoy the exemption limit of ? 10.00 lakhs. To certain extent AMCs insistence to submit the bill in prescribed form is ill adviced. We are not to register as service tax assesse till our brokerage is less than ?10.00 lakhs. If we collect any amount in our bill as service tax , as formatted by AMCs is against the provisions of law and we are to remit such collected amount to the government, though we are exempted.