On work contract
This query is : Resolved
02 August 2014
percentage of service tax and vat on denting and painting work under upvat.
03 August 2014
I'm Replying only Service tax Point of View:
On painting work service tax @ 60% should apply.
.
.
So effective rate is 12.36*60%
.
.
Budget Effect:
In case of works contract service, there were different composition schemes of 40%, 60% and 70%. Now, the 60% scheme is abolished w.e.f. 1-10-2014.
.
.
So in short what ever comes in 60% falls to 70% Slab
.
.
So your effective rate w.e.f 01.10.2014 is
.
=12.36*70%
On painting work service tax @ 60% should apply.
.
.
So effective rate is 12.36*60%
.
.
Budget Effect:
In case of works contract service, there were different composition schemes of 40%, 60% and 70%. Now, the 60% scheme is abolished w.e.f. 1-10-2014.
.
.
So in short what ever comes in 60% falls to 70% Slab
.
.
So your effective rate w.e.f 01.10.2014 is
.
=12.36*70%
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
