Excise
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 August 2013
Is amount of Insurance and Freight charges included in calculation of CST @ 2%?? ie.Is excise levied on Insurance and Freight charges?
12 August 2013
excise and cst are different concepts pls specify ur query.
12 August 2013
Regarding CST, the answer is:
As per the CST Act, Sale price does not include the following -
• Freight or transport charges for delivery of goods, if charged
separately
• Cost of installations, if charged separately
• Cash discounts for making timely payments.
• Trade discount
• Insurance charges of goods insured on behalf of the buyer
-------------------------------------------
2010-TIOL-69-SC-CT -supreme court decision
M/s India Meters Limited Vs State Of Tamil Nadu (Dated: September 7, 2010)
Sales Tax – Whether freight and insurance charges includible in turnover and taxable
turnover for TNGST/CST?
Freight and insurance charges incurred by seller upto destination includible in turnover and taxable turnover, liable to sales tax and CST –
In a specific contract between supplier and buyer where ownership of goods remain
with supplier till delivery at destination, freight and insurance charges being a part of sale price being payable by purchaser as a consideration, includible in turnover and taxable turnover –
As per the CST Act, Sale price does not include the following -
• Freight or transport charges for delivery of goods, if charged
separately
• Cost of installations, if charged separately
• Cash discounts for making timely payments.
• Trade discount
• Insurance charges of goods insured on behalf of the buyer
-------------------------------------------
2010-TIOL-69-SC-CT -supreme court decision
M/s India Meters Limited Vs State Of Tamil Nadu (Dated: September 7, 2010)
Sales Tax – Whether freight and insurance charges includible in turnover and taxable
turnover for TNGST/CST?
Freight and insurance charges incurred by seller upto destination includible in turnover and taxable turnover, liable to sales tax and CST –
In a specific contract between supplier and buyer where ownership of goods remain
with supplier till delivery at destination, freight and insurance charges being a part of sale price being payable by purchaser as a consideration, includible in turnover and taxable turnover –
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 August 2013
Thank You Sir
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
