Liabilities of service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 September 2012
Q1. Who is liable to pay service tax?
Q2. Why only Mfg. & services rendered business entity get benefit of service tax?
Q2. Why only Mfg. & services rendered business entity get benefit of service tax?
06 September 2012
* Every person providing taxable services have to pay service tax.
* The ultimate burden of service tax is to be passed on the consumer. therefore every person other than consumer get the benefit of cenvat credit. ie credit of duty paid by them on their input/ input services.
* Only Mfg and service provider gets the benefit of input credit because both of them are covered under Central board of excise and custom.
* While Traders are covered under the VAT laws which is a state matter.
* The ultimate burden of service tax is to be passed on the consumer. therefore every person other than consumer get the benefit of cenvat credit. ie credit of duty paid by them on their input/ input services.
* Only Mfg and service provider gets the benefit of input credit because both of them are covered under Central board of excise and custom.
* While Traders are covered under the VAT laws which is a state matter.
Message likes :
1 times
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
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- TDS ON CASH WITHDRAWALS...
- Form 10BD Filling
- Registration as Authorised Representative of minor
- ESIC- Employee Registration
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
