General exemptions

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uma..

uma.. (Querist)
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10 May 2013 Is there any general exemption available with respect to gross amt charged with respect to single invoice??

RENGARAJ R.K

RENGARAJ R.K (Expert)
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10 May 2013 The question is not clear. Since the query is received in service tax category, i believe that it is answerable in service tax perspective.

If the service income (taxable) is more than 10 lacs in a year, it is compulsory for the assessee to register under service tax act and to pay the respective tax for the taxable income. So, in single invoice, after crossing 10 lacs, even for Rs.100/- service tax has to be paid.

uma..

uma.. (Querist)
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10 May 2013
I mean as in case of trasportation sevice provided by a GTA exemption of Rs. 750 and 1500 is available.

Is it so in case of godown rent as well??

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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25 July 2024 Yes, there are certain general exemptions available under the Goods and Services Tax (GST) regime with respect to the gross amount charged for services, similar to the exemptions available for transportation services provided by Goods Transport Agencies (GTAs).

For godown rent specifically, there is no general exemption like the ones for transportation services provided by GTAs (Rs. 750 and Rs. 1500). However, there are other exemptions or lower rates applicable depending on specific circumstances or government notifications. Here are a few points to consider:

1. **GST Exemptions and Notifications**: The GST law provides for exemptions and reduced rates through notifications issued by the government. These notifications specify conditions under which exemptions or lower rates are applicable.

2. **Specific Exemptions**: Some specific types of godown rent may be exempted under GST if they fall under certain categories specified by the government. For instance, agricultural produce stored in warehouses approved by the Agricultural Produce Market Committee (APMC) is exempt from GST.

3. **Input Tax Credit (ITC)**: Even if there is no general exemption, the recipient of the godown rent service can usually claim Input Tax Credit (ITC) for GST paid on such services, provided it is used for furtherance of business.

4. **Notifications and Updates**: It's important to check the latest notifications and updates from the government regarding any changes in exemptions or rates applicable to specific services like godown rent.

Therefore, while there may not be a blanket exemption like that for GTA services, there are specific provisions and conditions under which godown rent services may attract exemptions or reduced rates under GST. It's advisable to consult with a tax professional or refer to the latest GST notifications for specific details applicable to your situation.

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