Reverse charge mechanism
This query is : Resolved
Harsh Nathani
(Querist)
19 October 2012
What is the meaning of abated and non-abated value in case of HIRING OF MOTOR VEHICLE services?
Madhukar N Hiregange
(Expert)
19 October 2012
there is an abatement [ deduction ] of 60% whihc is optional. If one takes that then ST is payable only on 40%.[ 40x 12.36]
If one wishes to avail the credit of CED on the vehicles then abatement cannot be claimed and then the non bated value would be 100% on which ST wouldbe payable. [ 12.36%]
If one wishes to avail the credit of CED on the vehicles then abatement cannot be claimed and then the non bated value would be 100% on which ST wouldbe payable. [ 12.36%]
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