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Budget- Amendment in Abatement Notification

Service Tax - By: - CA Akash Phophalia - Dated:- 1-3-2016 Last Replied Date:- 30-12-1899 - CHANGES IN ABATEMENT IN BUDGET 2016-17 With the budget announced on 29-02-2016, following changes were introduced in the abatement notification no 26/2012-ST dated 20.06.2012. The changes have been introduced vide notification no 08/2016-ST dated 01-03-2016. All the following changes will come into effect from 01-04-2016 Nature of Service Present Provision Proposed Provision Analysis/Remark Transport of go .....

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without any CENVAT credit. Abatement of 70% with CENVAT credit of tax paid on input services. CENVAT credit is allowed to avoid cascading effect. Services of GTA in relation to transport of goods by road Abatement of 70% without any CENVAT credit. Abatement of 70% on services of goods transport agency in relation to transport of goods other than used household goods without CENVAT credit. Abatement of 60% on services of goods transport agency in relation to transportation of used household goods .....

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. No CENVAT credit was admissible. Transport of passengers, with or without accompanied belongings, by (a) a contract carriage other than motorcab. (b) a radio taxi. (c) a stage carriage. No CENVAT credit was admissible. This amendment will come into effect from 01-06-2016. Simultaneous change is introduced in negative list. However, such services by a non-air-conditioned stage carriage will continue be exempted. Transport of goods by vessel Abatement of 70% without any CENVAt credit Abatement o .....

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