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Issue ID : 111389
- 0 -

Aggregate Value of ₹ 10 lakhs ??

Date 20 Jan 2017
Replies7 Answers
Views 2767 Views
Asked By

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

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Old Query - New Comments are closed.

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- 0
Replied on Jan 20, 2017
1.

Sir,

The question of availing abatement will arise only when 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.

- 0
Replied on Jan 20, 2017
2.

Thanks for the reply please also let me know as per the example given above what will be my tax liability??

11,00,0000 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

- 0
Replied on Jan 20, 2017
3.

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.

- 0
Replied on Jan 20, 2017
4.

Yes, the views expressed above are correct.

- 0
Replied on Jan 21, 2017
5.

It's Gross Value of Ten Lacs and it is without any abatemet.

- 0
Replied on Jan 21, 2017
6.

In my view also the threshold limit is only for the aggregate amount of ₹ 10 lakhs.

- 0
Replied on Jan 23, 2017
7.

Yes the abatement is applicable only on the taxable amount above threshold limit.

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