Service tax on transfer of fixed assets by road
This query is : Resolved
honnur vali
(Querist)
15 August 2012
Whether Service Tax is Required to be paid in the following situation.
Fixed Asset is purchases and transportation charges incurred to bring Fixed Asset to Factory Premises
The Fixed assets are transferred by lorry to factory premises.
Actually The Factory is Under Construction.
Fixed Asset is purchases and transportation charges incurred to bring Fixed Asset to Factory Premises
The Fixed assets are transferred by lorry to factory premises.
Actually The Factory is Under Construction.
Amol S Joglekar
(Expert)
15 August 2012
It will depend upon the kind of contract given to the contractor. If it is a stand alone contract, company shall bear the service tax.
CA Nikhil Jhanwar
(Expert)
15 August 2012
Service tax is required to be paid on freight but Company can take the credit of service tax paid on such inward transportation
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