Reverse charge mechanism on gta
This query is : Resolved
ABHAYKUMAR
(Querist)
06 January 2015
Dear Sir/ Mam,
Provision says that "GTA will be liable to pay tax only when both service provider and service receiver are individual".
The liability of service receiver under Reverse Charge Mechanism accounted to be
Tax @ 25% on abated value, if GTA does not avail CENVAT credit, otherwise tax on 100%.
How can we know that GTA has availed cenvat credit?
Provision says that "GTA will be liable to pay tax only when both service provider and service receiver are individual".
The liability of service receiver under Reverse Charge Mechanism accounted to be
Tax @ 25% on abated value, if GTA does not avail CENVAT credit, otherwise tax on 100%.
How can we know that GTA has availed cenvat credit?
CA Sheetal Wadhwa
(Expert)
06 January 2015
For taking the abated value of 25 % , you need to insure that GTA has not taken CENVAT Credit.
You can take a confirmation letter from the GTA on their letter head .
That will be sufficient proof, that substantive procedures were made to insure that there is no non compliance of the provision.
You can take a confirmation letter from the GTA on their letter head .
That will be sufficient proof, that substantive procedures were made to insure that there is no non compliance of the provision.
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
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- TDS on Dashcam rent and allied services
- Section 269ST applicability for capital introduced by partner to his partnership firm
- Gift to nri relatives residing in usa
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Urd purchase entry in tally prime
- TDS- 2026-27 Q1 Correction
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
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
