CLARIFICATION REQUIRED: -
TANKER IS IN THE NAME OF PARTNERS OF THE FIRM TANKER IS USED FOR THE PURPOSE OF BUSINESS TO TRANSPORT TAXABLE GOODS (EDIBLE OILS) WE ARE SHOWING TANKER AS ASSET IN THE FIRM BALANCE SHEET. FREIGHT CHARGES COLLECTED BY ADDING TO SELLING PRICE OF PALMOLIEN OIL. IS THERE ANY POSSIBILITY TO LEVY GST ON FREIGHT CHARGES AS THE VEHICLES IS NOT IN THE NAME OF THE FIRM.
IS THERE ANY JUDGEMENT RELATED TO MY QUERY
KINDLY SUGGEST
Summary: Whether GST applies to your freight charges depends on whether you issue a "consignment note." If you do not, you are likely not a "Goods Transport Agency" (GTA), and your transportation service is exempt; the freight cost is simply part of the taxable value of the oil you are selling. If you do issue a consignment note, you are a GTA and must comply with GST regulations regarding GTA services.
Varma Raja & Associates
Thrissur
CA Inter
View Details
Goodwin Pumps India Pvt Ltd
Chengalpattu
CA Inter
View Details
M N Rao & Associates LLP
Vijayawada
CA Inter
View Details
Abic and Mani Chartered Accountants
Kottayam
B.Com
View Details
CCI
Pro
CAclubindia
