Abatement - reverse charge mechanism

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Harsh dedhia (Querist)
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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???

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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03 March 2015 You can avail that abatement and pay under reverse charge.

Harsh dedhia

Harsh dedhia (Querist)
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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??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 March 2015 Service tax liability can't be shifted. You have to pay only your liability.

Harsh dedhia

Harsh dedhia (Querist)
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09 March 2015 thank a lot for your guidance.

Harsh dedhia

Harsh dedhia (Querist)
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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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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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

Harsh dedhia

Harsh dedhia (Querist)
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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???

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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04 April 2015 Remaining useful life has to be calculated based on present condition of the asset.

Harsh dedhia

Harsh dedhia (Querist)
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04 April 2015 i didnt get it sir!! please give example if possible

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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04 April 2015 Useful life has to be calculated based on the link provided.

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