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TMI BlogConsiderationX X X X Extracts X X X X X X X X Extracts X X X X ..... ient or by any other person but shall not include any subsidy given by the Central Government or a State Government; (b) the monetary value of any act or forbearance, in respect of, in response to, or for the inducement of, the supply of goods or services or both; whether by the recipient or by any other person but shall not include any subsidy given by the Central Government or a State Government ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) to section 67 of Services Tax Act Consideration includes- (i) any amount that is payable for the taxable services provided or to be provided; (ii) any reimbursable expenditure or cost incurred by the service provider and charged, in the course of providing or agreeing to provide a taxable service, except in such circumstances, and subject to such conditions, as may be prescribed; (iii) any amoun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed or recoverable in return for a provision of service which includes monetary payment and any consideration of non- monetary nature or deferred consideration as well as recharges between establishments located in a non-taxable territory on one hand and taxable territory on the other hand. 3. As per Guidance Note 2.2.2 of Education Guide issued 20th Jun 2012 2.2.2 What are the implications of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion are not consideration unless charity is obligated to provide something in return e.g. display or advertise the name of the donor in a specified manner or such that it gives a desired advantage to the donor. Example: - 1. The best example of consideration not entirely in the form of money is seen in the exchange offer in the retail trade of consumer durable: - When we go to buy a new mobile ph ..... X X X X Extracts X X X X X X X X Extracts X X X X
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