Calculate service tax on contract work
This query is : Resolved
08 October 2012
Respected Experts,
I want to know that what is the calculation of service tax in contract work with labour and materials for the f.y. 2012-2013. i think the ratio is 67% amount is materials and 33% is labour and the service tax chargeble on 33% amount.i want to know this is correct or not and also this ration is continued in f.y 12-13 or any change from 01-04-2012 so please guide me.
thanks
I want to know that what is the calculation of service tax in contract work with labour and materials for the f.y. 2012-2013. i think the ratio is 67% amount is materials and 33% is labour and the service tax chargeble on 33% amount.i want to know this is correct or not and also this ration is continued in f.y 12-13 or any change from 01-04-2012 so please guide me.
thanks
08 October 2012
That is no longer valid.
Now if actual material value available then on gross value less actual value of material. If not then pay ST on 40% of the value. With this you can avail the cenvat credit on capital goods + input services.
Now if actual material value available then on gross value less actual value of material. If not then pay ST on 40% of the value. With this you can avail the cenvat credit on capital goods + input services.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- Requirement under FEMA &RBI
- CLOSING STOCK QUERY
- REGARDING ITR FILING QUESTION
- GST ISD Query on various AMCs
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Query regarding reporting of exempt foreign remuneration in ITR
- U/S 194 T
- 44AD, 44ADA business details
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
