https://www.taxtmi.com/article/detailed?id=5865 Consideration for service includes monetary and non monetary returns-past, present or future-and is taxable at the gross amount charged or at the money equivalent under Section 67 and Explanation (a). Non monetary consideration must be valued by equivalent money value or, if unascertainable, by reference to gross charges for similar services or not less than cost of provision. The Service Tax (Determination of Value) Rules, 2006, supply methods for composite transactions and unascertainable values. Advances, forfeitures and demurrages can constitute taxable consideration; refundable deposits generally do not. en-us Sat, 11 Oct 2014 06:16:52 +0530 Sat, 11 Oct 2014 06:16:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5865 Consideration for service includes monetary and non monetary returns-past, present or future-and is taxable at the gross amount charged or at the money equivalent under Section 67 and Explanation (a). Non monetary consideration must be valued by equivalent money value or, if unascertainable, by reference to gross charges for similar services or not less than cost of provision. The Service Tax (Determination of Value) Rules, 2006, supply methods for composite transactions and unascertainable values. Advances, forfeitures and demurrages can constitute taxable consideration; refundable deposits generally do not. Articles Service Tax Sat, 11 Oct 2014 06:16:52 +0530 https://www.taxtmi.com/article/detailed?id=5865