HOD accounts
502 Points
Joined June 2012
@ swetha...R u a transporter manufacturing company or a transformer manufacturing company?
1. You will have to pay GTA tax, not 100% but on 25% of the Charges after availing the abatement of 75%. i.e. if you have paid Rs.1200 to transporter, then deduct 75% (Rs.900) as abatement and on Rs.300/- @ 12.36%, you will have to pay 37.08 as GTA Tax. GTA tax will have to paid on for any amount paid above Rs.750 per trasaction.
2. You will have to amend your S.T.Registration certificate for GTA under Transport of Goods by Road.
3. The accounting code are 00440067 for 12% , 004400298 - Primary ed.cess and 00440426 for SHEC.
4. No, you can't avail cenvat credit paid agst GTA tax.
Regards
Anandan.s
CAclubindia
