Abatement - reverse charge mechanism
This query is : Resolved
03 March 2015
Dear Sir,
Can we get abatement in service tax even if service tax is to paid under reverse charge.
For eg:
there is a abatement available in case of renting of motor vehicle for transportation of passenger of 60% (i.e. only 40% is Taxable) can we take abatement of the same while doing payment under reverse charge of Rent a cab service???
Can we get abatement in service tax even if service tax is to paid under reverse charge.
For eg:
there is a abatement available in case of renting of motor vehicle for transportation of passenger of 60% (i.e. only 40% is Taxable) can we take abatement of the same while doing payment under reverse charge of Rent a cab service???
03 March 2015
You can avail that abatement and pay under reverse charge.
09 March 2015
suppose service taken by client is under partial RCM. but Service provider is not charging his portion to Service Receiver. in this case liability of Service Receiver is how much??
09 March 2015
Service tax liability can't be shifted. You have to pay only your liability.
09 March 2015
thank a lot for your guidance.
04 April 2015
dear sir, how to calculate depreciation if the under WDV Method if asset is purchased after 01.04.14 for e.g. 29/08/14 the following treatment is correct or not?? mobile purchased on 12.01.15, therefore no. of days upto 31.03.15 is 79 & life of an asset as per companies act 2013 is 5 years so total life in days = 5years * 12 months * 365 days=21900 depreciation per day = cost of an asset i.e.17900/21900=0.82 per day * 79 days = Rs. 65 company is following WDV method
04 April 2015
Your calculation of depreciation is on straight line method.
See the chart depreciation for 5 years under WDV is 45.07% calculate proportionately for 79 days.
See the link.
https://www.club4ca.com/formats/wp-content/uploads/2013/10/Depreciation-Rate-chart-companies-act-2013.pdf
See the chart depreciation for 5 years under WDV is 45.07% calculate proportionately for 79 days.
See the link.
https://www.club4ca.com/formats/wp-content/uploads/2013/10/Depreciation-Rate-chart-companies-act-2013.pdf
04 April 2015
this is for the asset purchased in current year but suppose furniture is purchased on 28.07.2012 than how is remaining useful life is calculated??? & which rate to be applied if we dont want to provide for 5% scrap value???
04 April 2015
Remaining useful life has to be calculated based on present condition of the asset.
04 April 2015
i didnt get it sir!! please give example if possible
04 April 2015
Useful life has to be calculated based on the link provided.
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