On work contract
This query is : Resolved
manoj pandey
(Querist)
02 August 2014
percentage of service tax and vat on denting and painting work under upvat.
Ganeshbabu K
(Expert)
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
