Hey can we get GTA credit incase of carriage outward for manuf co.
Reena Panchal (Pursuing CA & CS) (56 Points)
02 December 2010Hey can we get GTA credit incase of carriage outward for manuf co.
JEEVAN KUMAR JAIN
(MANAGER ( ACCOUNTS ))
(55 Points)
Replied 03 December 2010
Please give full details of your query.
Reena Panchal
(Pursuing CA & CS)
(56 Points)
Replied 03 December 2010
the company's main activity is chemical production. Company pays GTA (service tax) on carriage out ward. company charged this p/l, wanted to knw, whether company wll get credit on GTA on carriage outward?
JEEVAN KUMAR JAIN
(MANAGER ( ACCOUNTS ))
(55 Points)
Replied 03 December 2010
If you book the order ( i.e supply )on FOR basis than you can get the credit on outward transportation. Pls. also refer the Master Circular No. 97/8/2007 S.T. of 23rd Aug'2007 clarifying procedural issues relating to service Tax. If you fullfill the conditions i.e delivary of Goods on FOR basis than you can avail service tax credit on outward transportation.
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