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Received contract from out of India what will be the tax implications
13-Jul-2023 (In Tax Law)
We have received and contract from Out side of india party but goods and work done in india maharshtra, pl. what implication of Taxes on us such as excise, Service Tax and Vat etc.
Service tax liability is on the person who is providing the services. In some cases the liability to pay services tax is on the recipient of service but this aspect is determined based on the nature of services. Whether there is Service tax liability or not it is determined on the basis of the fact where the services are deemed to be provided. If the services are provided in the territory of India then such services shall be liable to services tax. Prima facie it appears that the services provided by you are in Maharashtra therefore there will be a service tax liability on you. However, a conclusive opinion can be given only after knowing the modus operendi of your business.
Further, Excise is paid on the manufacture of goods only and VAT is only paid on the sales of goods. If you are only providing services then there will be implication of excise and VAT.
Further, Excise is paid on the manufacture of goods only and VAT is only paid on the sales of goods. If you are only providing services then there will be implication of excise and VAT.
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Adv. Deepak Thackur
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