Benefit of exemption limit - GTA

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..... 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 TOTAL 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 T .....

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..... AX 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 EXEMPTION IS FOR SERVICES PROVIDED. THANKS CA POONAM JAIN VIVEK VIHAR, DELHI E MAIL: [email protected] - Reply By Vijay Chitte - The Reply = A service pro .....

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..... vider 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 or more premises, excluding exempted service, did not exceed Rs.4 lakh. WHILE COMPUTING AGGREGATE VALUE OF TAXABLE SEVICES, THE PAYMENT RECEIVED TOWARDS THE GRO .....

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..... SS 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 ), FURTHER 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 T .....

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..... HE SERVICE TAX RULES . Vijay Chitte - Claris Lifesciences Ltd. - Benefit of exemption limit - GTA - Query Started By: - poonam Dated:- 12-4-2007 Service Tax - Got 1 Reply - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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