service tax on GTA
This query is : Resolved
M.SRINIVASU
(Querist)
25 August 2008
Dear all,
Pl.clarify the following points
1. IF bill was raised f.y. 06-07 alowng with service tax@12.24% when the payment is realised in the year 08-09, at what rate we are liable to pay S.T. i.e. @12.24% or 12.36%?
2.we are paying Service Tax on GTA on 25% of bill value, can we take this payment as input credit? if so can we take the credit in the same month.
thanking you,
Pl.clarify the following points
1. IF bill was raised f.y. 06-07 alowng with service tax@12.24% when the payment is realised in the year 08-09, at what rate we are liable to pay S.T. i.e. @12.24% or 12.36%?
2.we are paying Service Tax on GTA on 25% of bill value, can we take this payment as input credit? if so can we take the credit in the same month.
thanking you,
Aman Mirza
(Expert)
25 August 2008
1) The service tax liability will be 12.24% b'coz the invoice is raised to client with that amount rate and actual liabilty will arise only after realisation of invoice.
2)Input credit can be taken if at all this services are used in final taxable services then input credit can be taken as an when it is paid
2)Input credit can be taken if at all this services are used in final taxable services then input credit can be taken as an when it is paid
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
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Employee secondment
- GSTR9 Annual Return
- Ito add credit side of bank
- Rent agreement of House of deceased person
- Capital gain on commercial property and investment in residential property
- Rectification under processing even after 6 months cpc portal
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Import of Capital Machine
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
