Freight revenue
This query is : Resolved
06 July 2016
Dear Sir,
We are MNC we charge freight (after excise duty)to our customer and pay transport charges to our transporter .
Suppose we collect form customer 10000/- and pay 5000/- to our transport (we pay GTA on Rs-5000/-)
In this case what we should do? we need to pay GTA on 15000/-or Excise duty on 10000/-
Please guide with circular no or case law.
Thanks & Regard
Sharad Jadhav
We are MNC we charge freight (after excise duty)to our customer and pay transport charges to our transporter .
Suppose we collect form customer 10000/- and pay 5000/- to our transport (we pay GTA on Rs-5000/-)
In this case what we should do? we need to pay GTA on 15000/-or Excise duty on 10000/-
Please guide with circular no or case law.
Thanks & Regard
Sharad Jadhav
06 July 2016
You are liable for service tax on 5000 paid to GTA under Reverse charge mechanisam.
You are also liable for service tax on 10000 collected from customer. Claim input tax credit on service tax paid on 5000 against this payment.
You are also liable for service tax on 10000 collected from customer. Claim input tax credit on service tax paid on 5000 against this payment.
06 July 2016
Dear Sir,Thanks lot
But my concern is whether we need to pay excise duty because of additional consideration under rule 4,5,6 of valuation.
But my concern is whether we need to pay excise duty because of additional consideration under rule 4,5,6 of valuation.
06 July 2016
No excise duty payable on such freight.
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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- 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
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
