Valuation of work contract service under composition scheme


Querist : Anonymous (Querist) 29 May 2013

Dear Sir,

I am working in a construction company. We are constructing Boundary wall including supply of all required materials. We are under Composition Scheme of Work Contract of Service Tax. Suppose, we have submitted a Work Contract bill of Rs. 1,00,00,000/- inclusive of all taxes and duties. On which client has deducted WCT @ 5% i.e. 5,00,000/-.

What will be the Service Tax Liability:

1. (1,00,00,000/- - 5,00,000/- + Market Value of Land)/104.944*4.944 or

2. (1,00,00,000/- + Market Value of Land)/104.944*4.944.

Please Calirity

You need to be the querist or approved CAclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

× Online Coaching My Enrolled Courses
Articles Forum News Experts Exams Share Files Income Tax Accounts Career Corporate Law Service Tax Video Judgements Rewards Top Members Events Albums Find Friends Featured Feed Scorecard Bookmarks Mock Test Poll Notification Knowledge Finder Coaching Institutes Trainee Corner Jobs
close x
Download GST App    |    x