Liabilities of service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 September 2012
Q1. Who is liable to pay service tax?
Q2. Why only Mfg. & services rendered business entity get benefit of service tax?
Q2. Why only Mfg. & services rendered business entity get benefit of service tax?
06 September 2012
* Every person providing taxable services have to pay service tax.
* The ultimate burden of service tax is to be passed on the consumer. therefore every person other than consumer get the benefit of cenvat credit. ie credit of duty paid by them on their input/ input services.
* Only Mfg and service provider gets the benefit of input credit because both of them are covered under Central board of excise and custom.
* While Traders are covered under the VAT laws which is a state matter.
* The ultimate burden of service tax is to be passed on the consumer. therefore every person other than consumer get the benefit of cenvat credit. ie credit of duty paid by them on their input/ input services.
* Only Mfg and service provider gets the benefit of input credit because both of them are covered under Central board of excise and custom.
* While Traders are covered under the VAT laws which is a state matter.
Message likes :
1 times
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?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- GST Regis.
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- 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
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
