Regarding the service tax liability
This query is : Resolved
MANOJ KUMAR SHARMA
(Querist)
01 November 2012
A prop.firm has a work contract with a company the wooden work has to been done by the firm.the wooden work is related with the construction for the residential flats for the employees of the company.material and labour will be suppplied by prop.firm. in advance the firm received 15 lakh rupees in july,12.what % should be for the purpose of service tax and when it should be deposited.urgently required
CA Ayush Agarwal
(Expert)
01 November 2012
Its Work Contract.Its Fall Under Original Works Contract.
40% of Service is to be Taken.
in That 20% is to be Paid by Firm & Rest 20% by Company Under reverse Charge.
15 Lakhs received in July 2012, so in This Case on 15 Lacs ST Need to Payable on 5th of August.
Now Pay Along With Interest.
Since Payable on Accrual Basis.
40% of Service is to be Taken.
in That 20% is to be Paid by Firm & Rest 20% by Company Under reverse Charge.
15 Lakhs received in July 2012, so in This Case on 15 Lacs ST Need to Payable on 5th of August.
Now Pay Along With Interest.
Since Payable on Accrual Basis.
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