Reverse charge
This query is : Resolved
15 September 2012
Dear Sir,
Please elaborate the following:
7 (a) in respect of services provided or agreed to be provided by way of renting of motor vehicle designed to carry passengers on ABATED VALUE. It is mentioned that here, the S R will pay 100 % service tax.
7 (b) on NON ABATED VALUE. It is mentioned that the S P will pay 60% service tax.
What does this mean?
Please elaborate the following:
7 (a) in respect of services provided or agreed to be provided by way of renting of motor vehicle designed to carry passengers on ABATED VALUE. It is mentioned that here, the S R will pay 100 % service tax.
7 (b) on NON ABATED VALUE. It is mentioned that the S P will pay 60% service tax.
What does this mean?
15 September 2012
The difference is made on ABATED and NON ABATED value. ABATEMENT per se was applicable prior to 30/06/2012 in a big way. After 1/7/2012, the choice is with the assessee to go for abatement or not... accordingly the liability to pay service tax has been fixed by the service tax department.
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