Taxable value of service

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 August 2012 What is the taxable value of Service for Renting of Motor Vehicle for Carry passangers( Rent A Cab operator)? Previous to 01-07-2012 60% abatement was there for Rent A Cab Operator.As per my understanding Notification No. 26/2012/20-06-2012 continues the same . Am i right?

CA Suresh Jain

CA Suresh Jain (Expert)
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27 August 2012 Yes you right the abatement available is 60% provided CENVAT credit on inputs, capital goods and input services, used for providing the taxable service, has not been taken under the provisions of the CENVAT Credit Rules, 2004.
sureshjain.nj@gmail.com

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