Abatement - Services by foreman of chit fund

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..... Effective Rate of tax: 70% of Service Tax prescribed u/s 66B Conditions: 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. From 11.7.2014 to 31.3.2015 - Notification No. 08/2014 - Service Tax dated 11th July, 2014 8.Services provided in relation to chit Effective Rate o .....

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..... ns: 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 Amendment notes w.e.f. 1.4.2016 - Services provided by foreman to a chit fund under the Chit Funds Act, 1982 to be taxed at an abated value of 70% [i.e., with abatement of 30%], subject to the condition that Cenvat credit o .....

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