Effective rate of service tax after abatement - w.e.f. 1.7.2012

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.... exempts the taxable service of the description specified in column (2) of the Table below, from so much of the service tax leviable thereon under section 66B of the said Finance Act, as is in excess of the service tax calculated on a value which is equivalent to a percentage specified in the corresponding entry in column (3) of the said Table, of the gross amount charged by such service provider for providing the said taxable service, subject to the relevant conditions specified in the corresponding entry in column (4) of the said Table, namely;- Table Sl. No. Description of taxable service Percent- age Conditions (1) (2) (3) (4) 1 Financial leasing services including equipment leasing and hire purchase ....

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.... 50 Same as above. 11 (i)Services provided or to be provided to any person, by a tour operator in relation to a package tour 25 (i) CENVAT credit on inputs, capital goods and input services, used for providing the taxable service, has not been taken under the provisions of the CENVAT Credit Rules, 2004. (ii) The bill issued for this purpose indicates that it is inclusive of charges for such a tour.   (ii)Services provided or to be provided to any person, by a tour operator in relation to a tour, if the tour operator is providing services solely of arranging or booking accommodation for any person in relation to a tour 10 (i) CENVAT credit on inputs, capital goods and input services, used for providing th....

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....entation charges and administrative fee. B. For the purposes of exemption at Serial number 4 - Consideration received for the purpose of computing the gross amount charged is the sum total of the gross amount and the value of all goods, excluding the value added tax, if any, levied on goods or services supplied free of cost for use in or in relation to the supply of food or any other article of human consumption or any drink, under the same contract or any other contract: Provided that where the value of goods or services supplied free of cost is not ascertainable, the same shall be determined on the basis of the fair market value of the goods or services that have closely available resemblance. 2. For the purposes of this no....