11 April 2008
There is 60% abatement of service tax in transport industry. Basing on this, they are charging only 4.944% Service Tax. What is this abatement? What is the purpose of this abatement? why it is given? Can't we change to normal slab? If we change to normal slab, can we claim input credit of service tax?
12 April 2008
abatement means all your direct expences in which uou are not paying any service tax on input so its deductions are given you and you will service tax on net amount after abatements
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