National Law Book Exchange

National Law Book Exchange
commission earned in foriegn exchange on orders booked. whom to charge service tax?

We are an indenting agent and earn comission at an agreed rate in foriegn exchange upon maturity of the indent . i.e ( when the importer pays for the goods and upon receipt of such payment by our overseas client we are paid this comission. can we charge service tax on a foriegn national if so under which law.

Service tax is levied under the Finance Act 1994 as amended on the link below

http://www.allindiantaxes.com/service-tax-finance-act.php

Further, you are required to pay service tax under service tax rules on the link below

http://www.allindiantaxes.com/service-tax-rules.php

Your attention is also invited to Rule 4A of Service Tax on the link below and you are required to bill service tax to your Principal within stipulated time as per the rules
The rate of service tax is 12.24%.However, you can avail exemption if gross value of taxable service is below rs.4 lakh in financial year subject to conditions.

http://www.allindiantaxes.com/strule4a.php

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