current rate for works contract
Querist : Anonymous
We have the contractor in our factory site for doing all civil works. For that what will be the current service tax rate on such works contract.
And is there any vat to paid from the company side (As per Andhra Pradesh Vat rules)for above such contracts.
And also what will be the accounting treatment for the above bills-like bill amount, service tax, vat and tds deduction.
Under service tax works contract rate is Regular scheme 10.30% and composition scheme 4.12%
Querist : Anonymous
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