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How Will Sbc Be Calculated For Services Where Abatement Is Allowed? |
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Answer» Taxable services, on which service tax is leviable on a certain percentage of value of taxable service, will attract SBC on the same percentage of value as PROVIDED in the notification No. 26/2012-Service Tax, dated 20th June, 2012. So, this notification would apply for SBC also in the same manner as it APPLIES for service tax. For example: in the case of GTA, [Service Tax + SBC]% would be (14% Service Tax + 0.5%SBC) X 30% = 4.35% (4.20%+0.15%) Taxable services, on which service tax is leviable on a certain percentage of value of taxable service, will attract SBC on the same percentage of value as provided in the notification No. 26/2012-Service Tax, dated 20th June, 2012. So, this notification would apply for SBC also in the same manner as it applies for service tax. For example: in the case of GTA, [Service Tax + SBC]% would be (14% Service Tax + 0.5%SBC) X 30% = 4.35% (4.20%+0.15%) |
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