TaxTMI 
TaxTMI 
TaxTMI 
What is taxable service means, is it the gross value of service rendered or value after abatement?
Experts opinion is requested
taxable service
Pradeep Kumar
Debate on Taxable Service Value: Gross Amount vs. Abated Amount; Clarifications on Abatement Applicability as per Notification No. 26/2012. A discussion on the nature of taxable services and the calculation of service tax. Participants debated whether the taxable service value is the gross amount or the amount after abatement. Experts clarified that the value typically refers to the gross amount unless specific abatements apply, as outlined in the Finance Act, 1994, and relevant notifications. Interest rates on delayed service tax payments were also discussed, with rates varying based on circumstances. A disagreement with a central excise superintendent's interpretation was noted, emphasizing the need for clarity on abatement applicability as per Notification No. 26/2012. (AI Summary)