TMI Blogthreshold exemption in case of abatementX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir, My client is a transporter , he can claim abatement of 75%, He has just taken service tax registration, number, how should i caculate threshold limit of Rs.10 Lac? He will come in tax after turnover of 10 lac or after turnover of 40 Lac( because he will claim 75% abatement that will come to 30 Lacs, then he will claim threshold exemption Rs. 10 Lacs.as per my point of view) than ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... king you CA Amarish Tiwari - Reply By raj kumar shukla - The Reply = As per explanation (B) in the Nofn.1/2006 "Aggregate value not exceeding ten lakh rupees' means the sum total of first consecutive payments received during a financial year towards a gross amount, as prescribed under section 67 of the Finance Act charged by the service provider towards taxable services till the aggre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gate amount of such payments is equal to ten lakhs.Thus it implies that for computing 10 lakhs, payments received are to be counted and not the amount after abatement. - Reply By ANAND SHEMBEKAR - The Reply = while calculating the limit of Rs.10 Lakhs , the value of taxable services on which service receiver has to pay the service tax not to taken into consideration. In instance case your clien ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t is service provider and provides taxable services of Rs. 17 Lakhs during the F Y but out of which taxable value of service (GTA ) to the Specified category of service receiver say Ltd Company or excisable dealer is Rs.12 Lakhs and others Rs. 5 Lakhs then also he is able to claim the Small service provider exemption of Rs.10 Lakhs . While calculating the limit of Rs. 10 Lakhs , value before aba ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tement to be considered and not after. Thanks ANAND SHEMBEKAR CELL NO. 91-9421187122 - Reply By NEERAJ KUMAR, RANCHI - The Reply = Yes I do agree with the views presented above. Your client will come in tax only after turnover of Rs. 10Lac and not after 40 Lacs. - Reply By AMARISH TIWARI - The Reply = Dear Mr.Raj kumar shukla,ANAND SHEMBEKAR NEERAJ KUMAR, RANCHI, I am ve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ry grateful to you for reply of my query on service tax threshold exemption CA.AMARISH TIWARI 9827073629 BHOPAL - Reply By raj kumar shukla - The Reply = welcome mr. Tiwari.I have checked up and found that I have mentioned wrong notfn. no.In fact It is 6/2005 and 1/2006 . To that extent, I would like to correct myself. Raj kumar shukla - threshold exemption in case of abateme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt - Query Started By: - AMARISH TIWARI Dated:- 2-1-2012 Service Tax - Got 5 Replies - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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