Goods Transporter

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SAM KOSHY

SAM KOSHY (Querist)
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25 March 2008
Give me the % of service tax to be paid as a goods transporter for a receipt of Rs.25000/-.

SK

Prasad R

Prasad R (Expert)
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25 March 2008 Rs 25000 receipt will be assumed inclusive of service tax @ 12.36% the amount of service tax to be paid on Rs 25000 amt received for goods transport services will be calculated as-
Service tax payable @12.36% on Rs 25000= 25000-(25000/112.36%)i.e Rs 2750.
So the service tax payable amount is Rs 2750.
Regards
Prasad.R

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
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26 March 2008 2750/- IS CORRECT AS PER ABOVE CALCULATION

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Shyam Lal Naik

Shyam Lal Naik (Expert)
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26 March 2008 In case of Goods Transport Agency Service an abetment of 75% of the Gross Value is available.

Hence the amt of Service Tax will be Rs. 688/-