Weather abatement is include in exemption limit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 March 2014
Dear sir,
Plz guide me in calculation
Total Receipt Rs.1200000
Abatement@60% Rs.720000
------------
Taxable service Rs.480000
hence below exemption limit( Rs.10,00,000), so no question to go for services tax obligation.
Wheather i am right ....
Plz guide me in calculation
Total Receipt Rs.1200000
Abatement@60% Rs.720000
------------
Taxable service Rs.480000
hence below exemption limit( Rs.10,00,000), so no question to go for services tax obligation.
Wheather i am right ....
05 March 2014
sir you are totally right.You are not required to pay service tax as value of taxable service provided is less than exemption limit.
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 March 2014
Need more reply with rule & Notification if any
06 March 2014
Sir as per my understanding of Notification Number 33/2012,Aggregate value of Taxable services shall mean only only the taxable part of the service.
As in your case taxable part is 40%,the same only should be considered for the purpose of exemption limit.
Moreover service tax is payable only on taxable part and not on abated part.
As in your case taxable part is 40%,the same only should be considered for the purpose of exemption limit.
Moreover service tax is payable only on taxable part and not on abated part.
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