Dear Professional Collegues,
Please let me know weather a Goods Transport Agency has to add service tax on 100 % taxable amount in Consignment Note (Lorry Receipt) @ 12.36% or on 25% of taxable amount, if its taking abatement under notification no 26/2012-ST dated 20/6/12 & weather it has to mention in Lorry Receipt abount abatement if it charges service tax on such abated amount.
Thanks in advance.
You will have to take 25% value of Lorry receipt value for service tax liability. No need to mention regarding service tax / abatment in the lorry receipt. The gross amount paid to GTA is considered as 100% value and value for ST is 25%.
Regards,
JMS
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