ABATEMENT IN SERVICE TAX

This query is : Resolved

Vinod Rai (Querist)
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27 March 2008 CAN SOMEBODY EXPLAIN ME THAT TERM ABATEMENT WITH EXAMPLE.I DON'T HAVE COMPLETE KNOWLEDGE REGARDING THAT TERM PLZ HELP ME OUT

Shyam Lal Naik

Shyam Lal Naik (Expert)
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27 March 2008 Abetment means allowable deduction from the consideration receivable for rendering the service to arrive at the taxable value.

For example : An abetment of 75% is available in case of GTA Service

Gross Consideration = 100
Less : Abetment 75% = 75

Taxable Value = 25