Service applicability for transport business..

This query is : Resolved

venkatesh (Querist)
Follow

22 September 2015 Service tax applicability on transport business of goods or raw material of iron ore ... 1.service tax appilicality 2.if applied rate of service tax 3.exemption or abatement for above business...

Sagar mal Pareek

Sagar mal Pareek (Expert)
Follow

22 September 2015 In transport business the service name is Gods transport agency service. In this service there is a consignor and there is a consignee. The service tax is payable normally by the person paying the freight or is liable to pay freight ,if either the consignee or the consignee is there from the seven specified catagories of persons who are like company,factory,partnership firm etc. in rare case the GTA is liable to pay. Also the person liable to pay as stated above has to pay at 14% of 30%of freight amount ,inother words it is 4.2% of the total freight amount. for details pl.refer to the definition of GTA,and the related notification which gives list iof seven type of persons and also onthe exemption of 70% on fright amount. tks n rgds sagar mal pareek 9824346469