9911796707
TMI BlogBudget 2012-2013 – Deemed value of taxable service - Abatement.X X X X Extracts X X X X X X X X Extracts X X X X ..... Budget 2012-2013 – Deemed value of taxable service - Abatement. X X X X Extracts X X X X X X X X Extracts X X X X ..... urpose of levy of service tax would be calculated at percentage specified in the Table subject to the relevant conditions specified Sl. No. Description of taxable service Deemed value - Existing % Proposed % Conditions 1 Financial leasing services including equipment leasing and hire purchase 10 (Nft 4/2006) 10 Nil. 2 Transport of goods by rail 30 (Nft 1/2006) 30 Nil. 3 Transpo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt of passengers by rail New levy 30 Nil. 4.1 Catering in a premises, including hotel, convention center, club, pandal, shamiana or any place specially arranged for organizing a function Convention center or mandap catering- 60 pandal or shamiana catering - 70 (Nft 1/2006) 70 CENVAT credit on any goods classifiable under chapter 1 to 22 used for providing the taxable service is not allow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 5 Transport of passengers by air Upto 31.03.2012 Domestic travel - max Rs 150 International Travel - max Rs 750 (Nft 26/2010) 40 CENVAT credit on inputs and capital goods, not allowed w.e.f. 01.04.2012 All Class Exemption 60% Levy of ST on 40% (Nft 6/2012) 6 Renting of hotels, inns, guest houses, clubs, campsites or other commercial places meant for residential or lodging purpose ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 50 (Nft 1/2006) 60 CENVAT credit on inputs and capital goods, not allowed 7 Transport of goods by road by Goods Transport Agency 25 (Nft 13/2008) 25 No CENVAT credit Exempt -(i) when gross amount charged on consignments not exceeding Rs 1500, or (ii) gross amount charged on individual consignment not exceeding Rs 750 - (Nft 034/04) 8 Services provided in relation to chit 70 (Nf ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t 1/2006) 70 No CENVAT credit 9 Renting of any motor vehicle designed to carry passengers 40 (Nft 1/2006) 40 No CENVAT credit 10 Transport of goods in a vessel from one port in India to another 75 (Nft 1/2006) 50 No CENVAT credit. 11 (i)Services provided by a tour operator in relation to a package tour 25 (Nft 1/2006) 25 No Cenvat Credit (ii)Services by a tour operator in rela ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion to a tour, solely of arranging or booking accommodation for any person in relation to a tour
10
(Nft 1/2006)
10
No Cenvat Credit
(iii) Services, other than services specified in (i) and (ii) above, provided to any person, by a tour operator in relation to a tour
40
(Nft 1/2006)
40
No Cenvat Credit X X X X Extracts X X X X X X X X Extracts X X X X
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