Benefit of exemption limit - GTA

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..... Benefit of exemption limit - GTA
Query (Issue) Started By: - poonam Dated:- 12-4-2007 Last Reply Date:- 12-4-2007 Service Tax
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Service Tax
M/S ABC IS A COMPANY RECEIVING GOODS TRANSPORT SERVICES FROM GTA AND PAYING SERVICE TAX AS SERVICE RECIEVER. TOTAL AMOUNT PAID TO GTA DURING FINANCIAL YEAR 06-07 WAS ONE LAC ONLY. M/S ABC IS ALSO PROVIDING CONSULTANCY SERVICES,BUT THE TO .....

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..... TAL RECIEPT FROM CONSULTANCY DURING 06-07 WAS TWO LACS. MY QUESTION IS CAN M/S ABC CLAIM THE BENEFIT OF 4 LACS EXEMPTION,INSPITE OF BEING REGISTERED WITH SERVICE TAX AS SERVICE RECIEVER OR LIABLE TO PAY SERVICE TAX ON CONSULTACY FEES. IN OTHER WORDS WHETHER WE CAN CLAIM EXEMPYION BENEFIT OF 4 LACS OR 8 LACS, EVEN IN A CASE WHEN WE ARE PAYING SERVICE TAX AS SERVICE RECIEVER FROM GTA, AS 8 LACS EXEM .....

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..... PTION IS FOR SERVICES PROVIDED. THANKS CA POONAM JAIN VIVEK VIHAR, DELHI E MAIL: [email protected] Reply By Vijay Chitte: The Reply: A service provider is eligible to avail exemption from service tax on aggregate value of taxable service not exceed Rs.4 lakh in any financial year, if during the preceeding financial, the aggregate value of all taxable service provided by him from one o .....

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..... r more premises, excluding exempted service, did not exceed Rs.4 lakh. WHILE COMPUTING AGGREGATE VALUE OF TAXABLE SEVICES, THE PAYMENT RECEIVED TOWARDS THE GROSS AMOUNT CHARGED FROM SUCH SERVICE RECIVERS WHO ARE LIABLE TO PAY SERVICE TAX ON "GTA" SERVICES (being from specified category), IS NOT TO BE INCLUDED. THIS EXEMPTION IS SUBJECT TO CERTAIN CONDITIONS. (refer notification 06/2005-ST), FURTHE .....

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..... R THIS EXEMPTION IS NOT AVAILABLE TO THE PERSONS WHO ARE LIABLE TO PAY SERVICE TAX ON GTA SERVICES AS RECEIVER OF THESE SERVICES AS PER RULE 2(1)(d)(v)OF THE SERVICE TAX RULES. Vijay Chitte - Claris Lifesciences Ltd.
Discussion Forum - Knowledge Sharing .....

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