Tag Archives: Abatement

Abatement on Chit Fund Services

Finance Bill 2016 Abatement on Chit Fund Services (Applicable w.e.f. 01.04.2016) Abatement is being provided by a foreman of chit fund in relation to chit. Now, the said services shall be taxed after availing the abatement of 30% subject to condition of non-availment of CENVAT Credit in respect of inputs, capital goods and input goods.… Read More »

Abatement in case of Construction of complex, building, civil structure

Finance Bill 2016 Abatement in case of Construction of a complex, building, civil structure or a part thereof, intended for a sale to a buyer, wholly or partly except where entire consideration is received after issuance of completion certificate by the competent authority (Applicable w.e.f. 01.04.2016): The applicable abatement rate for this service is 70%.… Read More »

Abatement in case of Transport of Goods by Rail

Finance Bill 2016 Abatement in case of Transport of Goods by Rail (Applicable w.e.f. 01.04.2016) Prior to 01.04.2016, Notification No. 26/2012-Service Tax dated 20.06.2012 provides abatement of 70% on transportation of goods by rail services with the condition that no CENVAT Credit should be availed in respect of input, input services and capital goods. However,… Read More »

Abatement can be claimed even if duty paid belatedly

Facts of the case The appellant’s machines were sealed and there was no production from 16.4.2013 to 15.5.2013. The appellant had already deposited duty of 70 lakh for the whole of month of April, 2013. Therefore, the appellant filed an application on 8.5.2013 for abatement of duty for the period 16.4.2013 to 30.4.2013. The same… Read More »