Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Service Tax Implication

Service Tax (Legacy) 1042 views 3 replies

S.Jeyendran

Student of CA Final Course

207 Points Posted on 30 April 2008

Dear Friends,

Please clarify on the below issue

A Forwarder received USD 1000 from a shipper who had given his shipment for export from India. He paid USD 800 as freight to the Main Line Operator (MLO) and retained USD 200 as consideration for the shipment. Is the amount of USD 200 will attract service tax?

Regards

S.Jeyendran

Replies (3)

prabhat

chartered accountants

24 Points Posted on 07 May 2008

service tax shall be payable if the receipt by the person exceeds rs 10,00,000 during the financial year 2008-2009.

Hari Venkata Ramana

M.Com AICWA

124 Points Posted on 15 May 2008

service tax is payable under new composition scheme @ 0.25% on turnover of the money lender, money changers and FE agents. I am not sure this will apply to your case.

Mehul

Asst. Manager Accounts

32 Points Posted on 17 May 2008

We are manufacturers of non-exciseable goods and a part of manufacturing work is outsourced for job work. whether service tax on job work will be chargable under buisness auxillary services (Kindly refer notification 8/2005 dated 01.03.2005)?