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.
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
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".
CAclubindia
