SERVICET AX ON FREIGHT?
This query is : Resolved
13 October 2007
IS SERVICE TAX APPLICABLE ON THE PROFIT MARGIN EARNED BY SELLING THE OCEAN FREIGHT ???
13 October 2007
If your service is covered in the notifications, then the gross amount of the service provided is liable for service tax. There is no question of segregating cost and profit elements.
Please refer Ocean freight is chargeable to service tax from the notifications.
If your service is covered in the notifications, then the gross amount of the service provided is liable for service tax. There is no question of segregating cost and profit elements.
Please refer Ocean freight is chargeable to service tax from the notifications.
15 October 2007
thanks for yr reply. can u pl send me that notification???
16 October 2007
Every element of income be it service charge or profit will be subject to levy of service tax if the service is a notified serivce, if you could please elobrate the nature of transaction it would help in addressing your query. I understand that Ocean freight are fixed per TONNE or per CBM or per TEU basis, commonly known as Basic Ocean Freight.
16 October 2007
Every element of income be it service charge or profit will be subject to levy of service tax if the service is a notified serivce, if you could please elobrate the nature of transaction it would help in addressing your query. I understand that Ocean freight are fixed per TONNE or per CBM or per TEU basis, commonly known as Basic Ocean Freight
17 October 2007
ravi, if possible pls post the same on the portal and send me the link
22 October 2007
thanks for yr feedback.
to elaborate pl note
company is getting the ocean freight for a particular destn from the shipping line adds its profit margin and quotes the same to the customer. customer in turn picks up the cntr and exports. in this case, co.'s profit is only in the difference in the ocean frt. it only buys and sells the ocean frt. is that margin liable to service tax ??
also pl send me this notification "Ocean freight is chargeable to service tax".
awtg for yr valuable reply.
to elaborate pl note
company is getting the ocean freight for a particular destn from the shipping line adds its profit margin and quotes the same to the customer. customer in turn picks up the cntr and exports. in this case, co.'s profit is only in the difference in the ocean frt. it only buys and sells the ocean frt. is that margin liable to service tax ??
also pl send me this notification "Ocean freight is chargeable to service tax".
awtg for yr valuable reply.
05 November 2007
Please post your address so I can courier across the notification.
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
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- ITDS U/S.194T of Firm
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- FORM 141 SDV query
- Eway bill not cancelled within 24 hous what can be due
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- TDS Return Q1 FY 2026-27
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
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
