service tax abatements
This query is : Resolved
Madhukar N Hiregange
(Expert)
05 June 2009
It is the deduction/ part exemption in the value recived. On the net amount the ST is payable. There could be considtions which have to ne met.
Manmohan ACA, CS
(Expert)
05 June 2009
Abatement stands for concession in service tax. Here service tax is not imposed on full value of service. but on part of service e.g. if invoice for servicing is to be raised for Rs.1000.00 and abatement of 75% allowed (e.g. in GTA Services) then service tax will be imposed only on Rs.250.00.
There are many services where abatement is allowed, but in such cases no cenvat or input tax credit will be allowed.
There are many services where abatement is allowed, but in such cases no cenvat or input tax credit will be allowed.
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