Excise

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 August 2013 Is amount of Insurance and Freight charges included in calculation of CST @ 2%?? ie.Is excise levied on Insurance and Freight charges?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 August 2013 excise and cst are different concepts pls specify ur query.

RENGARAJ R.K

RENGARAJ R.K (Expert)
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12 August 2013 Regarding CST, the answer is:

As per the CST Act, Sale price does not include the following -
• Freight or transport charges for delivery of goods, if charged
separately
• Cost of installations, if charged separately
• Cash discounts for making timely payments.
• Trade discount
• Insurance charges of goods insured on behalf of the buyer
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2010-TIOL-69-SC-CT -supreme court decision

M/s India Meters Limited Vs State Of Tamil Nadu (Dated: September 7, 2010)
Sales Tax – Whether freight and insurance charges includible in turnover and taxable
turnover for TNGST/CST?

Freight and insurance charges incurred by seller upto destination includible in turnover and taxable turnover, liable to sales tax and CST –

In a specific contract between supplier and buyer where ownership of goods remain
with supplier till delivery at destination, freight and insurance charges being a part of sale price being payable by purchaser as a consideration, includible in turnover and taxable turnover –

Querist : Anonymous

Querist : Anonymous (Querist)

12 August 2013 Thank You Sir

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