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.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
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.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
