CA Sansaar
- All Categories
- Income Tax (1634)
- Students (770)
- Service Tax (497)
- Corporate Law (465)
- Audit (399)
- Accounts (341)
- VAT (277)
- GST (145)
- Excise (106)
- Finance (105)
- Banking (46)
- FEMA (40)
- Custom (29)
- Shares & Stock (18)
- IFRS (18)
- Income Tax Software (5)
- Cost Inflation Index (1)
Recent
- Income Tax Notice Received: What Should a Taxpayer Do?
- IN A GOVT OWENED PSU, MAKE PROVISION IN ACCOUNTS FOR ITEM HAVING CONTIGENCY IN NATURE
- GST Notice Received: How Should a Taxpayer Respond?
- CA vs CMA: Which is better?
- Can a Chartered Accountant Sign Estimated Financial Statements?
- Want to assist in Forensic Audit
- Revising 3CA 3CD to 3CB 3CD
- LFAR in Bank Branch Audit - Clause-by-Clause Discussion by CA Vivek Khurana Notes required
- Bank Branch Audit
- Got high refund
- Form 67
- GSTR9
- Partner of CA firm required
- RENEWAL OF REGISTRATION
- financial statements
- income Tax
- ITR Filing
- Property Attachement
- Liability of Independent and Non-executive director
- financial statements
- stock statement procedure for bank od loan
- ITR FILING OF ARMY UNIT
- signing of Project report
- NON CORPORATE BALANCE SHEET FORMAT
- CA FINAL
- Accounting Treatment of Mutual Fund under IndAS
- ITC Availed & Utilized on Supply from Non-Existent Firms
- GST Liability of Award received by a Company
- Reund of TDS Excess Deposited
- Income Tax TDS
- gst
- Reconstitution of partnership firm in case of death of partner and introduction of new partner
- Consolidattion of financial statemement
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- NR GST NUMBER
- Presumptive Income
- tax audit late filing penality provision applicable f.y.23-24
- Interest in outstanding demand
- sale turnover declared as per books or AIS show in itr f.y.23-24
- GST
Q. > Please Help: abatement on restaurant service
According to notification 13/2012 dt. 17/03/2012-----abatement applicable to restaurants is 70% (which i have studied from site www.cbec.in)
but there is also a RULE 2C WHICH states that abatement applicable on restaurants is 60%
i want to know which provision will prevail, whether 60% or 70% abatement will apply ?
answered Apr 23, 2012 by CA VIPIN GARG , New Delhi
Dear Sourabh, in case of restaurants the abatement is only 60% and not 70% as per the latest amendment made in the budget.
Hope you got the answer you were looking for, have a nice day.........
answered May 03, 2012 by Ashish Chaudhary , Jaipur
Notification No. 13/2012 provides percentage of value on which service tax is chargeable. Tax is payable on 70% of value after taking abatement of 30% in case of supply of food.
However, for restaurants, applicable provision would be as per Rule 2C of valuation rule which provides for exemption of 60% i.e. tax should be charged on 40% of the value.
Above provision would become effective from the date of negative list provisions coming into effect.
At present, abatement to restaurant continues at 70% as per notification No. 1/2006 as amended by Notification No. 34/2011-S.T., dated 25-4-2011.
Experts Panelist
Comments
sourabh mehra
24-Apr-2012 , 11:14:36 amthanks