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Goods Transporter

This query is : Resolved 
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(Querist)
25 March 2008
Give me the % of service tax to be paid as a goods transporter for a receipt of Rs.25000/-.

SK
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Prasad R

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Prasad R (Expert)
25 March 2008 Rs 25000 receipt will be assumed inclusive of service tax @ 12.36% the amount of service tax to be paid on Rs 25000 amt received for goods transport services will be calculated as-
Service tax payable @12.36% on Rs 25000= 25000-(25000/112.36%)i.e Rs 2750.
So the service tax payable amount is Rs 2750.
Regards
Prasad.R
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CA Saurabh Maheshwari

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CA Saurabh Maheshwari (Expert)
26 March 2008 2750/- IS CORRECT AS PER ABOVE CALCULATION
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
26 March 2008 In case of Goods Transport Agency Service an abetment of 75% of the Gross Value is available.

Hence the amt of Service Tax will be Rs. 688/-
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Jitender Garg

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Jitender Garg (Expert)
26 March 2008 Mr. Prasad is correct
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