TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Banks Under Scrutiny for Underreporting Service Tax on Agency Commissions; Authorities to Investigate and Act.</h1> The circular addresses the non-payment of service tax on agency commissions by a bank's treasury branch. During an audit by the Central Excise Commissionerate, it was found that the bank's currency chest branches were not accounting for the full commission amount received on government transactions when calculating service tax liability. Instead, service tax was paid only on the net commission amount. This issue was reported to the Board, and it is suspected that similar practices might be occurring at other banks. The circular instructs relevant authorities to investigate and take appropriate action.
TaxTMI 
TaxTMI 
