Cenvat Credit on GTA
This query is : Resolved
30 December 2009
Dear,
Pl guide, We are into manufacturing and not providing any output service.
We pay service tax on inward transportation (GTA)service under reverse charge method on behalf of transporter availing benefit of abatement.
Can we avail credit of this service tax paid on GTA?
Is there any need to take any declaration from transporter for availing credit?
regds
pankaj
Pl guide, We are into manufacturing and not providing any output service.
We pay service tax on inward transportation (GTA)service under reverse charge method on behalf of transporter availing benefit of abatement.
Can we avail credit of this service tax paid on GTA?
Is there any need to take any declaration from transporter for availing credit?
regds
pankaj
30 December 2009
under reverse charge, payment of service tax has to be made in cash only and can not utilize credit.but this amount paid can be availed as credit and can be utilised in paying excise duty.
30 December 2009
Thanks for reply...
We do pay service tax under reverse charge through Bank only and do not utilise cenvat credit.
But my question is whether we are eligibile to take Cenvat Credit of Service tax paid under input GTA services on behalf of transporter availing benefit of abatement?
We do pay service tax under reverse charge through Bank only and do not utilise cenvat credit.
But my question is whether we are eligibile to take Cenvat Credit of Service tax paid under input GTA services on behalf of transporter availing benefit of abatement?
31 December 2009
Please note that now 75% of value of taxable GTA service is 'EXEMPT' and it is not an 'abatement'. If you are paying service tax on input GTA service, in my opinion, you can use this amount to pay excise duty.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- DELIVERY GOLD & SILVER AND OTHER ETF TRADING PROFIT AS BUSINESS INCOME
- GSTR-1A How to update Invoice
- Excess salary payment.
- 3cd- cash system of accounting is allowed?
- Provision for loans that are under Revenue Recovery
- Form 121-contradictory opinions
- APPLICABILITYOF GST ON STUDENT HOSTEL FEES
- Capital gain from sale of house property
- Is Personal Guarantee of Director is Compulsory in case of loan to company ??
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Sale Incentive booking
- Negative ITC in Table 4(A)(5)
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
