CALCULATION OF ABATEMENT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 August 2010
How do we calculate service tax liability in case of abatement?
03 August 2010
When an assessee avails the abatement, then service tax liability will be as below:
Abated Rate 40 percent (assume)
AV of services = Rs 10,000/-
Abated amount @40 % = Rs 4,000/-
Balance = Rs 6,000/-
Service tax @10% = Rs 600/-
EC @ 2 % = Rs 12/-
SHEC @% = Rs 6/-
Total liability = Rs 618/-
Abated Rate 40 percent (assume)
AV of services = Rs 10,000/-
Abated amount @40 % = Rs 4,000/-
Balance = Rs 6,000/-
Service tax @10% = Rs 600/-
EC @ 2 % = Rs 12/-
SHEC @% = Rs 6/-
Total liability = Rs 618/-
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