https://www.taxtmi.com/forum/issue?id=111022 The primary operative rule is that the taxable value of a service is ordinarily the gross amount received, determined under the valuation provisions and rules; however, for services specified in the abatement notification the taxable value is reduced by the notified percentage subject to conditions such as non availment of CENVAT credit and limitations on deduction of cost of goods sold, and a composition option exists for works contract services permitting discharge of liability by paying a fixed percentage of gross charges. en-us Thu, 13 Oct 2016 14:28:52 +0530 Thu, 23 Jan 2025 15:56:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=111022 The primary operative rule is that the taxable value of a service is ordinarily the gross amount received, determined under the valuation provisions and rules; however, for services specified in the abatement notification the taxable value is reduced by the notified percentage subject to conditions such as non availment of CENVAT credit and limitations on deduction of cost of goods sold, and a composition option exists for works contract services permitting discharge of liability by paying a fixed percentage of gross charges. Discussion-Forum Service Tax Thu, 13 Oct 2016 14:28:52 +0530 https://www.taxtmi.com/forum/issue?id=111022