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TMI BlogValuation of Taxable Services of Charging Service TaxX X X X Extracts X X X X X X X X Extracts X X X X ..... the provision of service is for a consideration which is not ascertainable, be the amount as may be determined in the prescribed manner. (2) Where the gross amount charged by a service provider, for the service provided or to be provided is inclusive of service tax payable, the value of such taxable service shall be such amount as, with the addition of tax payable, is equal to the gross amount charged. (3) The gross amount charged for the taxable service shall include any amount received towards the taxable service before, during or after provision of such service. (4) Subject to the provisions of sub-sections (1), (2) and (3), the value shall be determined in such manner as may be prescribed Explanation.- For the purposes of this section, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 14-5-2003, Finance (No. 2) Act, 2004, w.e.f. 10-9-2004 and Finance Act, 2005, w.e.f. 13-5-2005, read as under : 67. Valuation of taxable services for charging service tax. -For the purposes of this Chapter, the value of any taxable service shall be the gross amount charged by the service provider for such service provided or to be provided by him. Explanation 1 .-For the removal of doubts, it is hereby declared that the value of a taxable service, as the case may be, includes,- ( a ) the aggregate of commission or brokerage charged by a broker on the sale or purchase of securities including the commission or brokerage paid by the stock-broker to any sub-broker; ( b ) the adjustments made by the telegraph authority from any deposits made by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e provided by him; ( vi ) the cost of parts or other material, if any, sold to the customer during the course of providing maintenance or repair service; ( vii ) the cost of parts or other material, if any, sold to the customer during the course of providing erection, commissioning or installation service; and ( viii ) interest on loans. Explanation 2. -Where the gross amount charged by a service provider is inclusive of service tax payable, the value of taxable service shall be such amount as with the addition of tax payable, is equal to the gross amount charged. Explanation 3. -For the removal of doubts, it is hereby declared that the gross amount charged for the taxable service shall include any amount received towards the taxable servic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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