Service Tax Abatement

abatements 13097 views 4 replies

 

Abatement

Taxable Service 

Abatement

Banking and Other Financial Service

 

A) Financial Leasing Service

90%

[Please Refer: Service Tax Notification No. 4/2006-ST dated 01-03-2006]

 

B) Chit Fund Related Service

30%

[Please Refer: Service Tax Notification No.27/2008-ST dated 27-05-2008]

 

 

 

Business Auxiliary Service

 

(Production of processing of parts and accessories of Cycle, Cycle Rickshaw and Hand operated Sewing-machine.)

30%

[Please Refer: Service Tax Notification No.23/2006-ST dated 02-06-2006]

 

 

 

Construction Services – Commercial or Industrial

67%

[Please Refer: Service Tax Notification No. 1/2006-ST dated 01-03-2006]

 

 

 

Construction Services – Residential Complex

67%

[Please Refer: Service Tax Notification No. 1/2006-ST dated 01-03-2006]

 

 

 

Convention Service

40%

[Please Refer: Service Tax Notification No. 1/2006-ST dated 01-03-2006]

 

 

 

Erection, Commissioning or Installation Service

67%

(If gross amount charged includes cost of goods and materials)

 

[Please Refer: Service Tax Notification No. 1/2006-ST dated 01-03-2006]

 

 

 

Goods Transport Agency Service

75%

[Please Refer: Service Tax Notification No. 13/2008-ST dated 01-03-2008]

 

 

 

Mandap Keeper Service

40%

[Please Refer: Service Tax Notification No. 1/2006-ST dated 01-03-2006]

 

 

 

Outdoor Catering Service

50%

(If service charge includes charges for food)

 

[Please Refer: Service Tax Notification No. 1/2006-ST dated 01-03-2006]

 

 

 

Pandal or Shamiana Service

30%

(If service charge includes catering charges)

 

[Please Refer: Service Tax Notification No. 1/2006-ST dated 01-03-2006]

 

 

 

Renting of Cab Service

60%

[Please Refer: Service Tax Notification No. 1/2006-ST dated 01-03-2006]

 

 

 

Tour Operator Service

 

(A) Services provided by a tour operator in relation to a package tour

75%

(B) Service is provided solely for arranging or booking accommodation for any person in relation to a tour.

90%

(C) For services other than package tour and booking of accommodation

60%

[Please Refer: Service Tax Notification No. 38/2007-ST dated 23-08-2007]

 

[Please Refer: Service Tax Notification No. 15/2007-ST dated 04-04-2007]

 

 

 

Transport of Goods in Containers by Rail Service

70%

[Please Refer: Service Tax Notification No. 20/2006-ST dated 25-04-2006]

 

Replies (4)

Sir,

 

Can u please tell me the latest status after the budget 2012, abatement ratio on "commercial or industrial construction service" from 01 apr 2012

 

You can refer to notification no 26/2012 and 24/2012 of service tax. For a works contract, value of service portion will be 40% of the contract value. Also where for the construction service full consideration has been received after receipt of the Completion Certificate value of service portion will be 25 % of the contract value. So in which case you will fall, decide the tax implication accordingly.

Thx for your kind suggestion but clear me as per the latest Circular No. 162/13 /2012 –ST

 

This circular is about the point of tax, and not on the amount on which tax is payable. Hope it clears you the circular.


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