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Abatement - Services by foreman of chit fund

Abatement - Services by foreman of chit fund - Service Tax - Abatement, Composite Rate of Tax, and Valuation Scheme for specified services - 008 - Sr. No. 8 Services by foreman of chit fund (w.e.f. :1.4.2016) Scope of abated service - Notification no 26/2012-ST dated 20.6.2012 From 1.7.2012 to 10.7.2014 8. Services provided in relation to chit Effective Rate of tax: 70% of Service Tax prescribed u/s 66B Conditions: CENVAT credit on inputs, capital goods and input services, used for providing the .....

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. 08/2015 - Dated 1-3-2015 8.[***] OMITTED - Amendment notes w.e.f. 1.4.2015 - Abatement has been withdrawn from services provided in relation to chit. Consequently, Service Tax was to be paid by the chit fund foremen on the full consideration received by way of fee, commission or any such amount. They would be entitled to take Cenvat Credit. From 1.4.2016 -Not. 08/2016 - Dated 1-3-2016 8.Services provided by a foreman of chit fund in relation to chit Effective Rate of tax: 70% of Service Tax pr .....

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