Calculation of service tax
This query is : Resolved
04 January 2013
whether the limit of 10,00,000 is to be considered after providing abatement or on the total amt charged in bills.
eg-in case of restaurant services
gross amt=3000000
abatement=70%
option 1>after providing abatement taxable amt comes to 900000 which is less than 1000000.thus nothing is taxable.
option2>if we consider 30,00,000 then since it is above 10,00,000 then it becomes taxable.
eg-in case of restaurant services
gross amt=3000000
abatement=70%
option 1>after providing abatement taxable amt comes to 900000 which is less than 1000000.thus nothing is taxable.
option2>if we consider 30,00,000 then since it is above 10,00,000 then it becomes taxable.
06 January 2013
It is net of abatement.
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