Valuation of supply for air travel agents: prescribed reduced percentages of the basic fare determine the taxable value for bookings. Taxable value of services by an air travel agent under Rule 32(3) is a fixed percentage of the basic fare, with different percentages for domestic and ... Summary
Valuation of supply for air travel agents: prescribed reduced percentages of the basic fare determine the taxable value for bookings.
Taxable value of services by an air travel agent under Rule 32(3) is a fixed percentage of the basic fare, with different percentages for domestic and international travel; compute the respective percentage of each category's basic fare, sum those amounts, and round off the aggregate to determine the agent's taxable value for the period.
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