what is value added tax , how it is calculated , please explain with a short example

There is 60% abatement of service tax in transport industry. Basing on this, they are charging only 4.944% Service Tax. What is this abatement?
What is the purpose of this abatement? why it is given?
Can't we change to normal slab?
If we change to normal slab, can we claim input credit of service tax?

Its urgent.

Respected Sir,

I had Paid Advance against Machinery on 30th Sep 2007

Machinery received on 13th Nov 2007 (Bill of Leading Date 13th Nov 2007)

Balance Payment made on 15th Nov 2007

Which Date foreign Exchange rate I have to apply As per Accounting Standard 11

With best regards,

Vilas

can u please give me some tips how to do the tax audit what is to be consider while doing it?
what we have to check carefully while doing?
give me point wise description

can u please tell me what is STT?
can i take stt as a deduction if i m doing intraday in shares?
can i set off against my buisness profit?
how it is reflected in balancesheet &
P&LA/cdiffrent cases like individual,company,firm,

Respected Sir,

One of my friend is having PAN no. in the address of Mumbai, however he is living in Nallasopara, Thane.

He is having the income from Salary. Whether he is to file in Mumbai or Thane.

The form ITR-2 required any attachment or no attachment like form 16A, Housing Loan Payment certificate, Insurance Receipt etc.

Please reply soon as possible.

Regards,

Prabhakar Dubey

can anybody tell me in details what is profession tax?
i think 2 types r there PT(E) & PT(R)
when these types are applied ?
what is the chart of charging profession tax?

please reply me as earlier as possible

what is difference between buyer's credit and bank guarantee in banking field? How buyer's credit works?

We have filed the e-tds for IV Quater for Salaries 2006-07. Few days We got a notice for the Income Tax e-tds Dept, NSDL asking us to make certain correction in the said ETDS Return. But we have no lot the information which we have filed with department.

So can any body suggest me who to get the those information in order to file a correction return

I want to know is there is the service tax on the electricity provided by the malls or commercial building? My office is into one Mall or Shopping Complex & TATA is providing the electricity to this Mall but TATA has not charged any service tax. I have received the bill from the Mall inculding service Tax. Kindly solve my query.