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%
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