renu dutt (c a) (231 Points)
23 April 2015Dear all,
I want to know what is the advlorem tax rate for the receiver of the service "Transport of goods by road/goods transport agency service. We are a pvt. ltd. co. and pay service tax @ 3.09% on the amount paid to the transporter.In the previous service tax return we get the msg that advolrem tax rate is not correct.can any body guide in this regard.
ANIL DHANUKA
(Self Employed)
(54 Points)
Replied 24 April 2015
CA AJAY KUMAR AGRAWAL
(PRACTICE)
(815 Points)
Replied 24 April 2015
wef 01-04-2015 rate of abatement is only 70% i.e. effective tax rate will be 3.708%
ANIL DHANUKA
(Self Employed)
(54 Points)
Replied 24 April 2015
Manoj Agarwal
(Service Tax Consultant Rourkela ServiceTaxExpert@yahoo.com)
(3456 Points)
Replied 24 April 2015
Dear Renu,
If you are filing ST-3 Return for the Half Year ended 31-03-2015, you should show total freight paid at column B2.7 (service receiver) and select N/N-26/2012 Sr. No. 7 and claim 75% of total freigh as abatement. At Advolerem Rate, enter 12, 2 and 1 respectively.
For paying tax for the period 01-04-2015 onwards, you claim abatement of 70% i.e. effective tax rate of 3.708% of total freight.
CAclubindia
