Service Tax on Freight paid on Inputs purchased
Querist : Anonymous
We are paying the freight on Inputs purchasing, we want to know the rate of service tax to be deducted and can we take the cenvat credit of the same in our excise books.
Querist : Anonymous
The 75% abadment on service tax rate [10%]condition is if the transporter is not Registred with central excise & does not taken facility of cenvat credit. now in this case you pay the service tax @ 2.5% on the freight amount.
in case the transporter is taking credit facility of cenvat you will pay the service tax @ 10%
in both case you will refund the amount of service tax & adjust this amount agst cenvat duty payable.
Querist : Anonymous
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