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when ST to be paid in case of GTA

Chintanshah (CA Practice ) (122 Points)

10 May 2007

i am doing articleship in mumbai. i had a querry in ST GTA
company is booking a freight invoice in the month of Oct.06
payment is being made in the month of Nov.06
then in which month ST has to be paid to the government
it is to be considered in the month of booking or in the month of payment
can anyone give m answer

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11 Replies

The One (379 Points)
Replied 10 May 2007

The One Says:

Pay to the credit of Central Government by 5th of following month in which payments are received towards taxable services.

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Mayur Kolte (practice) (81 Points)
Replied 10 May 2007

In case of service tax of GTa . Liablity of payment is cast on Consigner and consignee. suppose if Party has charged ST in Bill which is reimbursed to party by co. in that case can the company excape from the liablity to pay service tax.????

Chintanshah (CA Practice ) (122 Points)
Replied 10 May 2007

i am asking about when service tax is to be paid to the government
in the month of booking or in the month of payment.

The One (379 Points)
Replied 10 May 2007

The One Says:

Ok, I can't understand your question please give full details and don't use arbitrary short forms.

Chintanshah (CA Practice ) (122 Points)
Replied 10 May 2007

i seen one freight bill sent by the goods transport agency
company is booking that invoice in the November month
and payment is made in the month of December month.
then Service tax on that bill will be considered in which month
i want to say in which month company has to pay service tax on such amount
before 5th of the December i.e. in the month of booking or
before 5th of the January i.e. in the month of Payment

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The One (379 Points)
Replied 10 May 2007

The One Says:

When is the service rendered? - since invoice must be sent within 14 days of completion of service or payment therefor whichever is earlier. Otherwise from what you say it should be 5th Jan.

Also all GTA services are not taxable and further as you must know the tax is payable by consignor or consignee who pays the freight and only 25% is taxable - not to mention the consignment note requirements.

Mcgupta (CA Job) (47 Points)
Replied 10 May 2007

[quote=2334]i am doing articleship in mumbai. i had a querry in ST GTA
company is booking a freight invoice in the month of Oct.06
payment is being made in the month of Nov.06
then in which month ST has to be paid to the government
it is to be considered in the month of booking or in the month of payment
can anyone give m answer[/quote]

Chintanshah (CA Practice ) (122 Points)
Replied 10 May 2007

thanks THE ONE
i will consult u any time i had a querry.
may i???

The One (379 Points)
Replied 10 May 2007

The One Says:

You are welcome to my friend if within my grasp I will answer you.

Swaminathan S (Finance Professional) (25 Points)
Replied 10 May 2007

Hi

I've Doubt on Valuation
Rule 4
Rule 6  - Price is not the sole condideration
- is any one  explain with example.

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Ramkrishna (Accountant) (325 Points)
Replied 10 May 2007

LIABILTY AROSE ON THE 5TH OF FOLLOWING MONTH OF THAT MONTH YOU BOOK THE BILL OR PAYMENT( ADVANCE) , THE CREDIT IS ALLOWED IN THE MONTH ,WHEN THE PAYMENT IS MADE.