Please correct me if I am wrong:
a) Service Tax on GTA is to be paid by the manufacturer receiving the goods
b) Servie tax is to be paid on 25% of the transport bill value * Service Tax rate
c) Service Tax is to be paid before the 5th of the month for the amounts paid to the transporters in the previous month
d) CENVAT can be claimed on the Service Tax paid for Carrage Inward
e) CENVAT cannot be claimed on the Service Tax paid for Carrage Outward
f) CENVAT credit paid on Carriage Inward can be claimed any time - after 2/4/9 months of payment of service tax also.
g) Service Tax need not be paid in cases where the singe transporttation bills for transportation of single product (may be raw material, spares, or other miscellaneous items) is below 1501.
Regards,
Prateek
CAclubindia
