Should freight transfer to purchase account

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 February 2016 Sir Should i Transfer the Freight Charges in Purchase account as the Service tax is exempt if freight amount is directly paid to the Supplier instead of transporter if there is Condition in Purchases order

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)

02 February 2016 if you paid directly to supplier than supplier has to charge VAT for any additional amount collected like transportation , packing and forwarding etc.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

02 February 2016 But the Supplier is not Charging Vat on the same

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)

02 February 2016 Supplier has to collect vat , if they have not collected than there is no problem for you.

Querist : Anonymous

Querist : Anonymous (Querist)

02 February 2016 Than Sir Should I Quarterly Transfer the Freight Charges to the Purchase account as I have to bifurcate the amount of Freight Chargeable to Service tax and Exempt From Service Tax both

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)

02 February 2016 FREIGHT PAID TO SUPPLIER GROUP UNDER PURCHASES AS FREIGHT INWARDS

Message likes : 2 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now