Taxation on annual maintenance contact

Venkatesh V (Manager-Accounts) (33 Points)

19 June 2013  
Dear All,
 
Please let me know the VAT & Service Tax rates on Annual Maintenance Contact for IT Products.
 
As for as my knowledge 75% of the Contact value will taxable at 5.5% VAT and 25% of the Contact value will taxable at 12.36% Service Tax.
 

Look forward for your reply