Abatement in service tax
This query is : Resolved
08 January 2013
Dear Experts,
I am in a great confusion in respect of Abatement given in Notification 26/2012 in Service Tax. As per notification the abatement is available if the condition is satisfied.
Now, I want to know whether this Notification is applicable for Reverse Charge mechanism and how much Service Tax will be paid by me on Reverse Charge of GTA.
And if this notification is applicable on Reverse Charge also then will I have to pay @ 25%?
Regards,
Nitin Panthri
I am in a great confusion in respect of Abatement given in Notification 26/2012 in Service Tax. As per notification the abatement is available if the condition is satisfied.
Now, I want to know whether this Notification is applicable for Reverse Charge mechanism and how much Service Tax will be paid by me on Reverse Charge of GTA.
And if this notification is applicable on Reverse Charge also then will I have to pay @ 25%?
Regards,
Nitin Panthri
08 January 2013
Yes, it is applicable for reverse charge also.
You are liable for service tax on 25% of value.
You are liable for service tax on 25% of value.
08 January 2013
Thanks for your Valuable reply sir.. Just want to know further about the condition given therein. Actually our company's auditor was saying that we need to take a declaration from Transporter stating they are not availing CENVAT credit on Inputs, Capital Goods and Input Services.
I am unable to understand his point.
I am unable to understand his point.
08 January 2013
Yes, he is right.. you are required to get a declaration from the transporter.
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