Recession of notification 01/2006
This query is : Resolved
CA Tejas Andharia
(Querist)
25 July 2012
As we all know, notification no. 01/2006 is rescinded w.e.f. 01/07/2012 by vide notification no. 34/2012 dated 20/06/2012.
That means benefit of abatement of 75% will be available upto 30/06/2012. OK? Am i right?
And what will be thereafter (after 01/07/2012)? after 01/07/2012 tax will be 4 times? that means entire tax of 12.36% of Rs. 100? No abatement will be there of 75%?
or any other notification is issued in this behalf?
That means benefit of abatement of 75% will be available upto 30/06/2012. OK? Am i right?
And what will be thereafter (after 01/07/2012)? after 01/07/2012 tax will be 4 times? that means entire tax of 12.36% of Rs. 100? No abatement will be there of 75%?
or any other notification is issued in this behalf?
Suresh Mittal
(Expert)
26 July 2012
Please refer NN 26/2012, the abatment is now available thru NN 26/2012. Need not to worry.
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