Dear All, Please help,
In Finance Bill 2008, there have been some amendment with regard to GTA service. Could anyone clarify me on that amaendment as to what is it all about?
Thanks
Menu
Amendment to GTA in Finance Bill 2008
Replies (2)
According to Finance Bill 2008 servicetax related to GTA;
1- Service Tax should be paid by either consigner or consignee or any of their agent who makes the payment to GTA.
2-They are liable to pay service tax on 25% of the gross bill.
3- Neither the consigner nor the consingee can take the Cenvat credit on such service tax paid.
| Originally posted by :Deepak Kumar | ||
| " | According to Finance Bill 2008 servicetax related to GTA; 1- Service Tax should be paid by either consigner or consignee or any of their agent who makes the payment to GTA. 2-They are liable to pay service tax on 25% of the gross bill. 3- Neither the consigner nor the consingee can take the Cenvat credit on such service tax paid. |
" |
Its true that Service Tax is payable on GTA services @ 25% however the same is also elligible for credit to the input service user.
Recent Topics :
- “Income Tax Implications of Company-Related
- Advice needed: Hypothetical case of non-filing of
- Demand Raised for Cess Amount Despite Section 89 R
- WRONG BILL NO FILED IN GST R1
- Addtional trade name for my another firm
- Commission / Agency Business without books: REAL E
- Difference between AIS and 26AS data.
- Applicability of FCRA to Article Processing Fees (
- GST Return
- Practical queries on buy back of shares
Related Topics :
CAclubindia
