Service tax - gross amount or net amount
This query is : Resolved
11 January 2017
Is the exemption limit of Rs.10 lacs applicable from gross amount of bill raised or net taxable services after abatement.
For example: If a contractor raises a bill of Rs.30 lacs in a year on account of construction of building. Is he liable to pay service tax as the taxable service is Rs.9 lacs (i.e 30 lacs - 70% abatement). He doesn't have any other receipt for the financial year.
For example: If a contractor raises a bill of Rs.30 lacs in a year on account of construction of building. Is he liable to pay service tax as the taxable service is Rs.9 lacs (i.e 30 lacs - 70% abatement). He doesn't have any other receipt for the financial year.
CA Suresh Jain
(Expert)
11 January 2017
It is after abetment
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