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Service tax

CA Shyamal Mistry (M.Com, A.C.A.) (128 Points)

20 November 2012

Hey friends,

Under Reverse Charge Mechanism, for example: If we need to pay service tax as service receiver while receiving GTA Services, so while paying service tax as service receiver, do we need to amend registration by adding GTA services in our ST-1 Registration Form?

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6 Replies

CA Goutam Sharma (Chartered Accountant in Practice) (468 Points)
Replied 20 November 2012

No,

Regards

CA Shyamal Mistry (M.Com, A.C.A.) (128 Points)
Replied 20 November 2012

then how can we show the payment in the service tax return?

We have to disclose it as a separate service, where we have paid as service receiver.

CA Goutam Sharma (Chartered Accountant in Practice) (468 Points)
Replied 20 November 2012

Reverse Charge mechanism vide notification no 30/2012 is applicable from 31st of July. The form of Return relevant for the period of July to Sep. has not been released till now, as far as I know. Wait for the release.

However, I belive, they will include separate section so as to differentiate Reverse Charge with Others

Regards

GTM

Nirav Worah (CHARTERED ACCOUNTANT) (396 Points)
Replied 20 November 2012

With the advent of negative list, the service wise classification has gone. You have to only show whether you are liable to pay service tax as service provider or service receiver. In case both, then you have to tick on both the options.