Aashish Padol (EXCISE EXECUTIVE) (206 Points)
05 October 2010Can i take service tax credit of GTA (Carriage inward & carriage outward) Service Tax is seperately show on bills. Pl. reply to aashish_padol @ rediffmail.com
Thanks in advance.
Madhukar N Hiregange
(Chartered Accountant)
(38934 Points)
Replied 06 October 2010
| Originally posted by : Aashish Padol | ||
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The ST on GTA is payable by the reciver of the service as long as the consignor/ consignee are the specified persons. Once they pay the ST the inward freight ST is clearly available. Outward freight ST is subject to dispute as on date. maybe availed but not utilised or availed and reversed under protest. |
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Anand
(ACCOUNTS EXECUTIVE)
(68 Points)
Replied 09 October 2010
as per rule service tax is liable on 25% of total amount of freight, if u take credit you have to submit serivce tax on full amount of freight and in other u will take credit of service in excise as u take credit of excise.
Anand
CAclubindia
