Abated value
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 March 2013
Dear Expert,
I am new to Service Tax Matter. Was goimg through RCM Notification no 30/12 where point no 7 says Rent/ Hiring of any motor vehicle designed to carry passenger on "abated value = 100%" & "Non Abated
Value= 40%" I want to know what Abated Value means? Any fixed amount value is given for Abated & Non abated Value? Please Help.
I am new to Service Tax Matter. Was goimg through RCM Notification no 30/12 where point no 7 says Rent/ Hiring of any motor vehicle designed to carry passenger on "abated value = 100%" & "Non Abated
Value= 40%" I want to know what Abated Value means? Any fixed amount value is given for Abated & Non abated Value? Please Help.
20 March 2013
In respect of services provided or agreed to be provided by way of renting of a motor vehicle designed to carry passengers is not registered under service tax then recipient will pay the service tax on 100% value. If service provider is registered under service tax then they will pay the Service tax on 60% of the total value and recipient will pay the service tax on 40% of the total value.
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