Credit os Service Tax on Storage Charges
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 February 2010
A Pvt.Ltd.Co. Is doing trading activity of Chemicals. Company Purchases liquid chemicals from the importer of chemicals by Bond Transfer. This chemical is stored in their storage tank of the tank owner. Tank owner will charge storage charges if material is not lifted within validity period. For storage charges tank owner raise a debit note and charge service tax in his debit note to & Importer incurred incidental charges for purchase of material. This charges he reimbursed from the seller by way of debit note and also charge service tax in his debit note. Material which is purchased by the company is sold to the customer. If customer doesn’t lift material within 1 month, company also charge storage charges by way of debit note and charge service tax.
My Query is Can company get a credit of service tax charge by the tank owner and credit of service tax charge by the importer on incidental charges? How can company should discharge its service tax liability?
My Query is Can company get a credit of service tax charge by the tank owner and credit of service tax charge by the importer on incidental charges? How can company should discharge its service tax liability?
12 February 2010
Yes. Credit is available of the service tax paid.
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
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- TDS Deducted AY-2013-14 Not Reflected in 26as
- ADVANCE PAYMENT OF ADVOCATE
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Eway bill not cancelled within 24 hous what can be due
- Eway bill generation from place other than registeted
- Goods sold but invoice not issued
- GST rate and HSN code for sale of racing horses
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
