Dear All, Please help,
In Finance Bill 2008, there have been some amendment with regard to GTA service. Could anyone clarify me on that amaendment as to what is it all about?
Thanks
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Amendment to GTA in Finance Bill 2008
Replies (2)
According to Finance Bill 2008 servicetax related to GTA;
1- Service Tax should be paid by either consigner or consignee or any of their agent who makes the payment to GTA.
2-They are liable to pay service tax on 25% of the gross bill.
3- Neither the consigner nor the consingee can take the Cenvat credit on such service tax paid.
| Originally posted by :Deepak Kumar | ||
| " | According to Finance Bill 2008 servicetax related to GTA; 1- Service Tax should be paid by either consigner or consignee or any of their agent who makes the payment to GTA. 2-They are liable to pay service tax on 25% of the gross bill. 3- Neither the consigner nor the consingee can take the Cenvat credit on such service tax paid. |
" |
Its true that Service Tax is payable on GTA services @ 25% however the same is also elligible for credit to the input service user.
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