SRI HARI RAMA KRISHNAN. H (ACCOUNTS MANAGER) (34 Points)
14 December 2012Hi,
I'm working for a Clearing & Forwarding company @ Bangalore. I wish to know the service tax calculation details for the FY 2012 - 2013.
How to prepare the service tax payable details. How to take the input credit. Your immedite respone will be very much helpful to me to proceed further.
In my company the ST due pending from 2009 -10 onwards . how to proceed and how to calcualte the interest and penalty .
Kindly help me at the earliest.
Regards
Sri Hari
Kaushik Vinod
(CA IN PRACTICE)
(1953 Points)
Replied 18 December 2012
Hi Hari,
For 2012-13 in case of C&F charge pay service tax only on those services which are perfomed by the C&F in his own capicity and not as an agent. Air Frieght for export is not taxable , Transport Charges if not GTa not taxable only his agency charges are taxable.
For booking CCR 2004 ie Rule 2 of CCR 2004 and interest is payable @ 18% p.a on the due amount of service tax under section 75 of the Act from 01-04-2011 Interest from 10-09-2004 to 31-03-2011 is 13% p.a.
Penaly shall be levied under section 76 and 77 of the Act.
Thanks
CAclubindia
