25 March 2011
Dear all, We purchased material for trading from outside. We received material bill and transportation bill. In transportation bill “Person Liable for Payment of Service Tax” sentence write. What about this means? When will our liability to pay service tax? After received 10 lacs bill of transport?
25 March 2011
in case of transporter Service tax is paid by person who paid the amount of freight if freight is paid by Consignor then liability of service tax accure in hand of consignor but if freight paid by consignee then Service tax by consignee,
25 March 2011
Also Service tax liability accure when a single transporter bill exceed Rs. 1500 also claim abatement of 75% Like if bill for Rs. 5000 and such freight is paid by consignor then consignor pay service tax on Rs.1250 (after taking benefit of 75% from Rs. 5000) and pay service tax on Rs. 1250
CAclubindia
