LUMSPUM

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DARSHAN (Querist)
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28 March 2009 IS THERE LUMPSUM METHOD IS AVAILABLE TO CONSTRUCTION SERVICE OF COMMERCIAL BUILDING IF IT IS AVAILABLE THEN BASIC EXEMPTION LIMIT OF 10 LACS IS AVILABLE OR NOT AND ALSO WHAT IS RATE OF SERVICE TAX THERE ON CAN U CALCULATE THAT IS

Rs. 35,00,0000

AND ALSO WHAT IS LOGIC OF THAT LUMSUM.

Dayal

Dayal (Expert)
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29 March 2009 We are not sure as to how you can claim threeshold exemption when the amount to be received by you is exceeding 10 lacs.

At the very outset You cannot claim exemption.

There are 3 options available if you are going for WCT service provisions, paying 4% ( 4.12%)on the gross receipts, Abatement and paying 10.3% on less abatement amount and third no abatement, full service tax 10.3% and availing full cenvat on inputs

Draw a table and work out the best option availabel at your end

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