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current rate for works contract

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 June 2010 Dear Friends,

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.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
25 June 2010
Under service tax works contract rate is Regular scheme 10.30% and composition scheme 4.12%
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Querist : Anonymous

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Querist : Anonymous (Querist)
26 June 2010 is it not 33% on 10.30% for regular scheme
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