At what rate service tax is to be charged on money received as cancellation charges,if the service provider paying ST on abatement basis.For Eg: if it is a tour operator providing package tour levied tax (25%*10.3%)(F Y 2010-11)) ie 75% of value is not taxable.Suppose money received 100000 and by the fault of customer ,tour was cancelled,so the tour operator deducted 50000 as cancellation charges. then what is the amount of service tax to be paid to the credit of Govt.
3 Replies
Shijith
(CA)
(238 Points)
Replied 02 May 2012
I think it is 60% batement and on balance 40% pay ST @ 10.3%, what u think
Nilkanth P Nawkar
(Professional Accountant)
(23 Points)
Replied 03 July 2012
tell me the rates of services tax
Shijith
(CA)
(238 Points)
Replied 30 July 2012
sir
which rate you looking for .On tour operators service , other services can claim 60% abatement and pay Service tax on 40%of amount service if they claiming for abatement. I want to know whether cancellation charges are coming under this category or not. Now i think it is not
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