Service tax on goods transport agency-urgent please
This query is : Resolved
02 March 2015
Our co. is aS trading concern. For providing goods to the customers it is using transporter A and amount is paid to A but in turn we recover this amount from our customer.
On which amount service tax is to be paid by our company?
On which amount service tax is to be paid by our company?
02 March 2015
Service tax has to be paid under reverse charge on the amount paid to A.
02 March 2015
and what about amount recovered from customer??
02 March 2015
If you recover the same amount no further service tax payable being reimbursement. If you charge any additional amount over amount paid to A plus service tax, service tax is payable on such excess collection.
02 March 2015
and such excess amount charged must cross the limit of Rs.10 lakhs in a year ???
02 March 2015
Yes you are right but all other services to be included, except service tax paid under reverse charge.
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