10 April 2016
A company having service tax registration is a regular service tax assessee. It avails service from a goods transport agency. Further the transporter does not provide pan. Total payments do not exceed Rs.75000 per annum. Further every bill is less than Rs.30000. Please provide the different compliances required with regards income tax , service tax ( reverse charge mechanism ) , and declaration by transporter since he is owning less than 10 vehicles.
10 April 2016
TDS - No TDS is required to be deducted since the amount does not exceed the specified amount, also there is no need of declaration further no need of PAN also ( But suggest to obtain for Safer side)
Service Tax - It needs to be paid by the company (subject to consignment amount exemption) under RCM after abatement on Freight amount
11 April 2016
I read the exemption notification and abatement. No worries for service tax RCM upto Rs.750 per consignee. So my problem is solved. Thankyou experts
CAclubindia
