Bill without service tax
This query is : Resolved
24 April 2010
Hi Sir
One of my clients are recieving the bills from a transporter without service tax on it.
Can you please help me with the treatment of the same in service tax.
Do i need to calculate the service tax and deposit it in department?
My client has the service tax number, And if i deposit the tax can i take the credit of the same.
Regards
Ravi
One of my clients are recieving the bills from a transporter without service tax on it.
Can you please help me with the treatment of the same in service tax.
Do i need to calculate the service tax and deposit it in department?
My client has the service tax number, And if i deposit the tax can i take the credit of the same.
Regards
Ravi
24 April 2010
IN CASE OF TRANSPORT, IF TRANSPORTER HAS NOT CHARGED SERVICE TAX ON FREIGHT. THEN IT IS DUTY OF CONSIGNEE TO DEPOSIT SERVICE TAX ON FREIGHT.
THERE IS TWO OPTION :
1ST DEPOSIT 10.30% FULL RATE OF TAX AND TAKE CREDIT OF IT IF IT IS RELATED TO FREIGHT INWARD. IF IT IS RELATED TO FREIGHT OUTWARD ,THEN YOU CAN'T TAKE CREDIT.
2ND TAKE ABATEMENT OF 75% RATE OF SERVICE TAX I.E DEPOSIT 2.59% ON FREIGHT AND CLAIM IT AS EXPENSE SERVICE TAX ON FREIGHT.
THERE IS TWO OPTION :
1ST DEPOSIT 10.30% FULL RATE OF TAX AND TAKE CREDIT OF IT IF IT IS RELATED TO FREIGHT INWARD. IF IT IS RELATED TO FREIGHT OUTWARD ,THEN YOU CAN'T TAKE CREDIT.
2ND TAKE ABATEMENT OF 75% RATE OF SERVICE TAX I.E DEPOSIT 2.59% ON FREIGHT AND CLAIM IT AS EXPENSE SERVICE TAX ON FREIGHT.
27 April 2010
If your service tax liability on other services is not so much that input credit of serv.tax paid on inward transport can be adjusted then u can pay service tax on transport @2.58% means 10% less 75% plus.
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