IS THERE ANY CHANGE IN ABATEMENT OF SERVICE TAX ON CATERING SERVICES? PRESENT RATE IS 50% I GUESS...
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Abatement
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There is no change & it is 50 % right now. But the receiver of service is not allowed to take any credit of cenvat after ammendment in Cenvat Credit Rules.
In Budget 2012 the abatement is reduced to 40% w.e.f. 1st April 2012
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