TMI BlogInput Tax Credit on FreightX X X X Extracts X X X X X X X X Extracts X X X X ..... Our Company is Registered under Service Tax for Transport Services By Road, we are the Consignor/Consignee not the GTA, Can we Claim Input Credit on Services Received by us for paying service tax on freight. We are claiming Exemption under notification no.32/04 dated 12/03/04 i.e is 75% of the taxable amount. - Reply By S Gupta - The Reply = Yes, your compnay can avail the credit of input serv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ice while availing the benefit of exemption notification no. 32/2004 . Only restriction is credit on input and capital goods. - Reply By Mangesh Lokre - The Reply = Central Government has issued notification No.29/2008-Service Tax, dated 26.06.2008 to exempt fully from levy of service tax on supply of transport vehicles (goods carriage) to a goods transport agency (GTA) to be used for transport ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of goods by road [section 65(105)(zzzzj) of the Finance Act, 1994]. Services provided by a GTA in relation to transportation of goods is leviable to service tax under GTA service [section 65(105)(zzp)]. Service tax for the GTA service provided is payable only on 25% of the amount charged for providing the GTA service and the balance amount is exempt from levy of service tax. You can avail the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Cenvat Credit on Inbound Transportation undoubtedly. But for outward transportation, please refer the ST Circular No 97/8/2007 - Input Tax Credit on Freight - Query Started By: - VIVEK Garg Dated:- 23-11-2005 Service Tax - Got 2 Replies - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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