17.BUSINESS AUXILIARY SERVICES
*As games of chance,lottery will b taxable in separate head & not under this service.
*Exemption to services provided by NEWS AGENCY if
(a)NOTIFIED for collection & distribution of news (b)APPLIES OR ACCUMULATES its income & NOT DITRIBUTE it to its members
*Circular: RE-INSURANCE COMMISION - NOT LIABLE TO S.TAX in any head, becoz when the amt of insurance is quite high, insurance company in certain cases, SHARES the risk with re-insurer. Agreement between Company & Re-insurer is only SHARE OF EXPENSES & thus NO SERVICE is provided
*As games of chance,lottery will b taxable in separate head & not under this service.
*Exemption to services provided by NEWS AGENCY if
(a)NOTIFIED for collection & distribution of news (b)APPLIES OR ACCUMULATES its income & NOT DITRIBUTE it to its members
*Circular: RE-INSURANCE COMMISION - NOT LIABLE TO S.TAX in any head, becoz when the amt of insurance is quite high, insurance company in certain cases, SHARES the risk with re-insurer. Agreement between Company & Re-insurer is only SHARE OF EXPENSES & thus NO SERVICE is provided
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