New rule of service tax w.e.f 01.07.12
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 August 2012
I am a junior accountant in a Labour contractor firm, i want to know about new rule of Service Tax from 01.07.12 and how to calculate the same above.
RENGARAJ R.K
(Expert)
04 August 2012
If you are pure labour contractor, you have to pay service tax 12.36%.
If you are a sub-contractor where material and labour is involved, this comes under works contract and for this you need not pay service tax if your main contractor has agreed to pay the service tax, after including the value of the sub-contractor.
Main contractor will pay the service tax 50% the total turnover after availing the abatement.
If you are a sub-contractor where material and labour is involved, this comes under works contract and for this you need not pay service tax if your main contractor has agreed to pay the service tax, after including the value of the sub-contractor.
Main contractor will pay the service tax 50% the total turnover after availing the abatement.
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