SERVICET AX ON FREIGHT?
This query is : Resolved
13 October 2007
IS SERVICE TAX APPLICABLE ON THE PROFIT MARGIN EARNED BY SELLING THE OCEAN FREIGHT ???
13 October 2007
If your service is covered in the notifications, then the gross amount of the service provided is liable for service tax. There is no question of segregating cost and profit elements.
Please refer Ocean freight is chargeable to service tax from the notifications.
If your service is covered in the notifications, then the gross amount of the service provided is liable for service tax. There is no question of segregating cost and profit elements.
Please refer Ocean freight is chargeable to service tax from the notifications.
15 October 2007
thanks for yr reply. can u pl send me that notification???
16 October 2007
Every element of income be it service charge or profit will be subject to levy of service tax if the service is a notified serivce, if you could please elobrate the nature of transaction it would help in addressing your query. I understand that Ocean freight are fixed per TONNE or per CBM or per TEU basis, commonly known as Basic Ocean Freight.
16 October 2007
Every element of income be it service charge or profit will be subject to levy of service tax if the service is a notified serivce, if you could please elobrate the nature of transaction it would help in addressing your query. I understand that Ocean freight are fixed per TONNE or per CBM or per TEU basis, commonly known as Basic Ocean Freight
17 October 2007
ravi, if possible pls post the same on the portal and send me the link
22 October 2007
thanks for yr feedback.
to elaborate pl note
company is getting the ocean freight for a particular destn from the shipping line adds its profit margin and quotes the same to the customer. customer in turn picks up the cntr and exports. in this case, co.'s profit is only in the difference in the ocean frt. it only buys and sells the ocean frt. is that margin liable to service tax ??
also pl send me this notification "Ocean freight is chargeable to service tax".
awtg for yr valuable reply.
to elaborate pl note
company is getting the ocean freight for a particular destn from the shipping line adds its profit margin and quotes the same to the customer. customer in turn picks up the cntr and exports. in this case, co.'s profit is only in the difference in the ocean frt. it only buys and sells the ocean frt. is that margin liable to service tax ??
also pl send me this notification "Ocean freight is chargeable to service tax".
awtg for yr valuable reply.
05 November 2007
Please post your address so I can courier across the notification.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
