Service tax-hing vehicle

anilwyd (77 Points)

24 July 2012  

In the Notification 15/2012

 

regrading reverse charge- in clause 7 - renting of vehicle- two option are there

 

1> 100% ST to  be paid by Service receiver (Abated value)

2> 40 % ST to be paid by Service receiver (Non abated value)

 

 

What is the meaning of abated value? How it is calculated?

please advise.