Saturday, December 11, 2010

ABATEMENT RATE VARIOUS SERVICES UNDER SERVICE TAX


on Saturday, December 11, 2010

Under service tax act general exemptions are allowed at fixed percentage for few services (List is given as under) .This fixed % is called abatements .This abatement can be claimed by the service provider if he has not claimed the cenvat credit on input services/goods.
Suppose a person has provided a service of 100 Rs and abatement on that service is 30 % than he can pay tax only on 70 % amount . Further exemption limit of 10 lacs is also counted after allowing the abatement . I list of various service in which abatement is allowed under service tax act is given below for your ready reference .

Abatement rate form 01.07.2012 notification dated 20.06.2012 is available here



download List of abatement allowed under service tax act updated 2010

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