service tax urgent as last date of return in soon.
This query is : Resolved
23 April 2009
what is difference between abatement and cenvat credit in service tax and why both them them together can not be claimed?
23 April 2009
Abatement is the beating down or lessening of debt or taxes but
Cenvat is you pay first and then get the credit of same.
So i am sure the diff is clear to you.
Cenvat is you pay first and then get the credit of same.
So i am sure the diff is clear to you.
23 April 2009
Abatement - means you are allowed some exemption for service tax on the gross amount. For Example - Gross amount is 100.00. Abatement is 40%. Then service tax is payable on Rs. 60.
CENVAT Credit - means you will allowed to deduct the input service tax on the services you have acquired to provide this service. It is same like VAT where VAT payable is Output VAT - Input VAT = VAT payable. So here you can claim the benefit of input service tax.
CENVAT Credit - means you will allowed to deduct the input service tax on the services you have acquired to provide this service. It is same like VAT where VAT payable is Output VAT - Input VAT = VAT payable. So here you can claim the benefit of input service tax.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
