Reverse charges.
This query is : Resolved
26 April 2014
I want to know if contractor adopting composition scheme and builder providing all material to contractor and given only labour service to contractor then reverse charges applicable or note and what will be rate of st on bill.
27 April 2014
yes reverse charge applicable to ur service
under 30/2012-st category of manpower supply
ur potion on gross bill 25% so u are liability overall@ 3.09% on gross
Example one month ur labour supply Rs.500000
Actual calculation
♥ Gross Bill Rs 5 00 00/-
♦So ur part 25% = RS 1 25 000/-
♦S TAX → on 125 000/- @12.36%= 15 450/-
Short Cut Calculation
over all S Tax Calculation 3.09% on Gross Bill Rs 5 00 000/- X3.09%= 15 450/-
under 30/2012-st category of manpower supply
ur potion on gross bill 25% so u are liability overall@ 3.09% on gross
Example one month ur labour supply Rs.500000
Actual calculation
♥ Gross Bill Rs 5 00 00/-
♦So ur part 25% = RS 1 25 000/-
♦S TAX → on 125 000/- @12.36%= 15 450/-
Short Cut Calculation
over all S Tax Calculation 3.09% on Gross Bill Rs 5 00 000/- X3.09%= 15 450/-
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