Abatement

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 April 2012 If some civil contractor has already received service tax form the company where he is working, will he able to receive abatement of 67%

Vivek Mehta (CA, DISA,CS, MBA)

Vivek Mehta (CA, DISA,CS, MBA) (Expert)
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06 April 2012 Yes he can take the abatemeny of 67%, but it is important to note than any excess payment received on account of service tax need to be deposited to the credit of government.

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Querist : Anonymous

Querist : Anonymous (Querist)

06 April 2012 means...suppose the peson has received 1 lacs as service tax.......what will be his liability 1 lac or 33000

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CA PRAVEEN SINGH

CA PRAVEEN SINGH (Expert)
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06 April 2012 Abatement means service tax will be charge on
only 33% of the value of service rendered.
for exp value of service rendered is rs 1 lacs.then service tax will be charge on 0.33 lacs.not on Rs 1 lacs.

Querist : Anonymous

Querist : Anonymous (Querist)

06 April 2012 BUT IF PERSON HAS ALREADY CLAIMED 1LACS AS SEVICE TAX AND HAS RECIEVED ALSO THAN HE IS BOUDED TO PAY CHALAN FOR 1 LAC OR 33000

Vivek Mehta (CA, DISA,CS, MBA)

Vivek Mehta (CA, DISA,CS, MBA) (Expert)
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06 April 2012 When u have charged extra and have received extra...over and above the actual liability...thn you are required to pay the extra sum that you have charged on account of service tax.

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