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Abatement - Renting of motorcab

Service Tax - Abatement, Composite Rate of Tax, and Valuation Scheme for specified services - 009 - Sr. No. 9 Renting of motorcab (w.e.f. 1.7.2012) Scope of abated service - Notification no 26/2012-ST dated 20.6.2012 From 1.7.2012 to 30.9.2014 9. Renting of any motor vehicle designed to carry passengers Effective Rate of tax: 40% of Service Tax prescribed u/s 66B Conditions: CENVAT credit on inputs, capital goods and input services, used for providing the taxable service, has not been taken unde .....

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the following manner: (a) Full CENVAT credit of such input service received from a person who is paying service tax on forty percent of the value; or (b) Up to forty percent CENVAT credit of such input service received from a person who is paying service tax on full value; (iii) CENVAT credit on input services other than those specified in (ii) above, has not been taken under the provisions of the CENVAT Credit Rules, 2004 Definitions and meanings: 65B (41) "renting" means allowing, pe .....

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