02 September 2013
Thanks Abhi, but what i want is Renting of Vehicles rather than running them on hire. There is a notification as well as an abatement on it and it is under reverse charge. So what codes to use while paying under reverse charge, is what my question is...
what is the Diffrence between Abatement and Exemption. Which notification to be quoted in the Return. There are two notifications 26/2012 & 30/ 2012 For abatement and Notification respectively and under 26/2012 ST, there are two parts for Sl.No 8 , if abatement taken and not taken.
What are cases when assessee is eligible for abatement and when not.
There is not much of difference between an abatement and an Exemption
For Eg. If the government notifies certain services which are exempt wholly or partly(Abatement) from service,Then even though the said service is chargeable to tax, But because of the notification It is exempt.
Notification No: 26/2012 provides exemption, where as 30/2012. is about reverse charge mechanism.
Please donot get confused with abatement and reverse charge mechansim,Both are different concept.
CAclubindia
