Gta payment
Querist : Anonymous
A registered Pvt Ltd. Company is engaged in Paper Trading.
Company is paying GTA / service tax on incoming consingments . Total incoming freight amount annually is
Total Annual Freight Rs 12.00 lacs
Less : 75% Abatment Rs 9.00 Lacs
Balance Rs 3.00 Lacs
Service Tax Liability @ 12.36% is Rs 37,080/= annually.
My question is as after deduction of abetment, service tax is applicable only on Rs 3.00 lacs which is very less than TRASH HOLD LIMIT of Rs 10.00 lacs !
Is said TRASH HOLD limit of Rs 10.00 lacs per annum is applicable to GTA Payments ?
Please guide me with quoting notifications / circulars etc.
Regards
Querist : Anonymous
Thanks for your reply
Regards
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