I want to know about abatement of service tax on chit fund
This query is : Resolved
Lokesha H K
(Querist)
06 February 2016
Dear sir/madam
I have been working in a chit fund company, for chit fund company service will applicable or not
if it is applicable what is the rate of service tax and from when it is applicable ?
If any abatement is there for chit company let me know
i read Delhi high court v/s UOI decision but i did't got clarity regarding the same
i am handling chit company now but foreman not yet registered under the provision of service tax, what should i do now ?
If he is registered under the provision of the service tax how could i calculate the service tax for the FY-2014-15
Thank you
I have been working in a chit fund company, for chit fund company service will applicable or not
if it is applicable what is the rate of service tax and from when it is applicable ?
If any abatement is there for chit company let me know
i read Delhi high court v/s UOI decision but i did't got clarity regarding the same
i am handling chit company now but foreman not yet registered under the provision of service tax, what should i do now ?
If he is registered under the provision of the service tax how could i calculate the service tax for the FY-2014-15
Thank you
CA R SEETHARAMAN
(Expert)
06 February 2016
Service tax on foremen commission is applicable on 70%(30% abatement and no cenvat credit) with effect from 14th May 2015.
06 February 2016
70 -30 was fixed by notification 26/2012, but omitted vide notification 8/2015 dated 1-3-2015.
CA R SEETHARAMAN
(Expert)
07 February 2016
Thank you Mr Warrier sir for your correction.
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