Service tax on gta
This query is : Resolved
04 September 2014
Dear sir,
We are paying service tax on GTA OUR TRANSPOTER AGENCY IS A Propertior concern
We need to deduct service tax paid on his bill and need to pay balance amount?
Thanking you
We are paying service tax on GTA OUR TRANSPOTER AGENCY IS A Propertior concern
We need to deduct service tax paid on his bill and need to pay balance amount?
Thanking you
04 September 2014
Dear Madhu,
No, service tax is not to be deducted from bill, percentage of GTA is applied on bill amount and deposited with govt., and the full amount of bill is to be paid to the transport agency (after deducting TDS, if applicable)
Example,
If bill amount is Rs.10,000
GTA will be Rs.309.
Transport agency payment will be Rs.10,000
No, service tax is not to be deducted from bill, percentage of GTA is applied on bill amount and deposited with govt., and the full amount of bill is to be paid to the transport agency (after deducting TDS, if applicable)
Example,
If bill amount is Rs.10,000
GTA will be Rs.309.
Transport agency payment will be Rs.10,000
05 September 2014
Dear sir,
1.If Suppose Bill Includes Service tax amount also and we have paid GTA 309/- to the Govt on the above Example ?
2. If Transporter Agency Charges service tax Extra we Need to Remit Including service tax ?
Thanking you
1.If Suppose Bill Includes Service tax amount also and we have paid GTA 309/- to the Govt on the above Example ?
2. If Transporter Agency Charges service tax Extra we Need to Remit Including service tax ?
Thanking you
05 September 2014
Dear Madhu,
Case 1: If service tax in included in bill (not mentioned separately) then we need to do reverse calculation.
Example: Bill Rs. 10,000
GTA will be = 10,000 X 3.09 / 103.09
= Rs.300
Case 2: If service tax is charged separately in bill, then pay basic amount only to the agency and service tax (GTA) amount to Govt.
Hope this is clear to you now.
Case 1: If service tax in included in bill (not mentioned separately) then we need to do reverse calculation.
Example: Bill Rs. 10,000
GTA will be = 10,000 X 3.09 / 103.09
= Rs.300
Case 2: If service tax is charged separately in bill, then pay basic amount only to the agency and service tax (GTA) amount to Govt.
Hope this is clear to you now.
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
- GST on export of services and Input Credit
- 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
- Sale of property furniture sale
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- 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
