Excise

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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)

12 August 2013 excise and cst are different concepts pls specify ur query.

RENGARAJ R.K

RENGARAJ R.K (Expert)

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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