TMI BlogAggregate Value of ₹ 10 lakhs ??X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir Let me know aggregate value to taxable service of RS 10 Lakhs means after abatement or before abatement allowed????? For eg If I provide service of ₹ 11,00,000.00 and has an abatement @40 % will it cross the limit of ₹ 10 lakhs exemption? Thanks - Reply By Rajagopalan Ranganathan - The Reply = Sir, The question of availing abatement will arise only when ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... you cross the exemption limit of ₹ 10 lakhs. Therefore ₹ 10 lakhs limit is calculated by the totaling the gross value charged by you in your invoice till you cross the limit of ₹ 10 lakhs. This is my opinion. - Reply By ramkishore gupta - The Reply = Thanks for the reply please also let me know as per the example given above what will be my tax liability?? 11,00,00 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 00 x 60%(after considering 40% abatement) 6,60,000 (Taxable Value) -10,00,0000(exemption) = zero or 11,00,0000(Total Value) - 10,00,0000 (exemption) = 1,00,000 x 15% (service tax) = 15000 tax payable thanks - Reply By KASTURI SETHI - The Reply = You are to pay ST on ₹ 1,00,000/-(11,00,000/- - 10,00,000/-). Avail abatement from this amount i.e.1,00,000/-, if admissible. - Reply By ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Mahir S - The Reply = Yes, the views expressed above are correct. - Reply By YAGAY AND SUN - The Reply = It's Gross Value of Ten Lacs and it is without any abatemet. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = In my view also the threshold limit is only for the aggregate amount of ₹ 10 lakhs. - Reply By Ganeshan Kalyani - The Reply = Yes the abatement is applicable only on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e taxable amount above threshold limit. - Aggregate Value of ₹ 10 lakhs ?? - Query Started By: - ramkishore gupta Dated:- 20-1-2017 Service Tax - Got 7 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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