Question ID : 38020

Aggregate turnover calculation

As per notification no 05/2012 dated 17/03/2012, aggregate value of Rs.1000000 calculated by sum of taxable services charged in first consecutive invoices. In the case of work contractor , taxable value comes after abatement of 40% for material part, if total contract receipt Rs.1200000 then taxable value comes Rs. 720000. But as per department view first deduct Rs. 1000000 and then calculate abatement on Rs. 200000. Finally taxable amount comes Rs.120000. Please explain correct legal position.

posted by vikas jain on Mar 7 2019 12:00AM