Credit taken
This query is : Resolved
22 August 2012
dear sir,
i have on quavery.
if i am sell of goods,in sell price including the transportation,and i pay to service tax on goods outward transportation,my sell is a for basis,so tell me i will service tax credit on outward transportation,
i have on quavery.
if i am sell of goods,in sell price including the transportation,and i pay to service tax on goods outward transportation,my sell is a for basis,so tell me i will service tax credit on outward transportation,
22 August 2012
It has clarified by Board's Circular No.97/6/2007 dated 23.08.2007 Place of Removal in case of F.O.R based transactions will be the customer site. for availing credit on outward transactions three conditions should be satisfied.
1.Price should be F.O.R( Free on Road)
2.Freight charges should be integral part of the price of the goods .
3.Seller has to bare the risk of loss or damage to to the goods during the transit( Insurance )
Subject to above three conditions, you can take cenvat credit on outward transportation.
Refer Cases:
1.M/s Ambuja Cements Vs UOI(2009) 236 ELT (P&H HC)
2.LG Electronics (India) Pvt Ltd. Vs CCE (E/536/2009 CESTAT)
1.Price should be F.O.R( Free on Road)
2.Freight charges should be integral part of the price of the goods .
3.Seller has to bare the risk of loss or damage to to the goods during the transit( Insurance )
Subject to above three conditions, you can take cenvat credit on outward transportation.
Refer Cases:
1.M/s Ambuja Cements Vs UOI(2009) 236 ELT (P&H HC)
2.LG Electronics (India) Pvt Ltd. Vs CCE (E/536/2009 CESTAT)
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
- Post Office RD Interest
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Applicable TDS for Purchase of Flat from NRI
- ITR validation error - Balance sheet is not filled
- Bank Accounts in Balance Sheet for ITR 3
- TDS ON CASH WITHDRAWALS...
- Form 10BD Filling
- Annual return of gst limit
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
