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What is the meaning of abated value


Querist : Anonymous (Querist) 10 July 2012

The notification 30/2012-ST makes service provider liable in the case of renting of motor vehicle service. The language goes as Service provided by way of renting of motor vehicle designed to carry on passengers on abated value to any person who is not engaged in similar line of business to be 100% of Service receiver.

What is meaning of abated value?

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