Civil construction
This query is : Open
13 October 2014
what should be the percentages out of total contract value to determine service tax payable and since erection work in huge extent being done thru mechanical process so what percentages actually will be service tax
13 October 2014
If the work contract goes with composition scheme and it is original work of consruction,
service tax would be payable on 40% of total amount.
No cenvat credit for excise duty paid on goods(material used in construction) is allowed.
Total amount means
total amount charged less vat.
service tax would be payable on 40% of total amount.
No cenvat credit for excise duty paid on goods(material used in construction) is allowed.
Total amount means
total amount charged less vat.
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