Cenvat Credit for payment of serv tax by GTA
This query is : Resolved
CA Abhishek Singh
(Querist)
07 January 2011
hello friends,
i am unabe to understand "whether ceavat credit can be used for paymentf of service tax on goods transported by road as consignor or consignee."
some explain me, if possible with the help of an example.
Thanks in advance
i am unabe to understand "whether ceavat credit can be used for paymentf of service tax on goods transported by road as consignor or consignee."
some explain me, if possible with the help of an example.
Thanks in advance
07 January 2011
No Cenvat Credit can not be used for payment of Service Tax in case of GTA.
In this case we will have to seperately issue a service tax challan and get it deposited by the 5th of next month for the month ending in which bill of transporter was paid by either company or individual.
In this case we will have to seperately issue a service tax challan and get it deposited by the 5th of next month for the month ending in which bill of transporter was paid by either company or individual.
Ram Avtar Singh
(Expert)
07 January 2011
First of all you should pay service tax libility by 5th of next month then take cenvat credit and utilize with setoff excise libility.
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