Abatement on gta
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 July 2012
As per old rules, abatement on GTA was available @75% i.e. service receipient is required to pay service tax on 25% amt.
As per Notification no.26/2012 abatement is available @25% ? It means service receipient is liable to pay servie tax on 75% amt.?
As per Notification no.26/2012 abatement is available @25% ? It means service receipient is liable to pay servie tax on 75% amt.?
CA CS Amit S. Kedia
(Expert)
02 July 2012
NO, Abatement is still 75% as per the said notification.
02 July 2012
Please read the wordings carefully. The notification says that service tax on the amount in excess of 25% of the value of service shall not be payable.
This means that the abatement is 75% and service tax payable shall be calculated on 25% of the value of the service.
This means that the abatement is 75% and service tax payable shall be calculated on 25% of the value of the service.
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