Service tax

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Pankaj jhanwar

Pankaj jhanwar (Querist)
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05 May 2014 Sir,
What is the meaning of 'Abated value & Non-Abated Value' in case of RCM-Rent a Cab services????

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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05 May 2014 abate means like discount....eg if the % of service tax is 12% and abatement is 20% the n net servcie tax rate is 12 * 20% only.

Pankaj jhanwar

Pankaj jhanwar (Querist)
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05 May 2014 12*20% or 12*80%???????

CA Ravi Kumar Murugesh

CA Ravi Kumar Murugesh (Expert)
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05 May 2014 In respect of service ‘Renting of any motor vehicle’ 60% abatement is available and net tax payable on 40% of value. This is subject to the condition that input, input services and capital goods , used for providing the taxable services has not been taken under the provision of CENVAT Credit Rules ,2004 by the service provider.
Liability to pay service tax
Hiring of motor vehicle designed to carry passenger
a] with abatement Service recipient 100% Service provider
nil
b] without abatement Service recipient 40% Service provider 60%

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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05 May 2014 sorry it is 20* 80% as tax payable...

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