Abatement
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 July 2016
Is catering business taxable under service tax ? If yes what is the abatement ? On what basis exemption limit is calculated..... If Total value of service is Rs.17,00,000 then the value of taxble service is (17,00,000-10,00,000) = Rs. 7,00,000 or Rs. 17,00,000 - (17,00,000*Abatement Rate) ? Please guide me.
CA R SEETHARAMAN
(Expert)
02 July 2016
No service tax applicable on Catering business in own non AC restaurant. No service tax on take away catering service. Service tax at 15% on 60% value(40% abatement) payable on out door catering service.
Service tax payable only if 17,00,000-(17,00,000*abatement rate) exceeds 10 lacs.
For AC restaurant 60% is the abatement rate.
Service tax payable only if 17,00,000-(17,00,000*abatement rate) exceeds 10 lacs.
For AC restaurant 60% is the abatement rate.
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