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Credit of gta

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(Querist)
25 August 2011 Hello, Can anyone tell me recent provision relating to GTA? Means
1. whether GTA is required to be paid for Freight Inward or Freight Outward or both?
2. Whether Service Receive should pay this?
3. Whether Rs. 1500 is still avaliable?
4. Whether Credit of GTA paid can be set off against Erection, commission and installation service?

Early response awaited
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CA Ankit Verma

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CA Ankit Verma (Expert)
25 August 2011 1) Both
2) Yes.... Compulsorily thru cash/PLA & not from credit available
3) Yes
4) Yes(*)

(*)
There is another clause of abatement @ 75% on "taxable value".
In case this option is availed answer to question (4) will be No, as credit of ST paid on abated value is not available.
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