Reverse charges- work contract.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 February 2013
Dear CCI Experts.
I am working in a Company engaged in providing Infrastructure Support Service and Renting of immovable property.
Current year Company Receiving Work Contract services (For Construction of Office Complex )from Many Contractors.(Individual & Firm). till Date these contractors are Charging Service Tax (100%) After Abatement i.e 4.944%. and company also Paid all Bills of Contractors. after notification 30/2012.Reverse Charge Mechanism 50% Service tax payment Liability of Service Receiver. and our company do not Follow Notification 30/2012 . what will effect and how can we rectify this. Please Suggest.
I am working in a Company engaged in providing Infrastructure Support Service and Renting of immovable property.
Current year Company Receiving Work Contract services (For Construction of Office Complex )from Many Contractors.(Individual & Firm). till Date these contractors are Charging Service Tax (100%) After Abatement i.e 4.944%. and company also Paid all Bills of Contractors. after notification 30/2012.Reverse Charge Mechanism 50% Service tax payment Liability of Service Receiver. and our company do not Follow Notification 30/2012 . what will effect and how can we rectify this. Please Suggest.
08 February 2013
The Notification No.30/2012-ST dated 20-06-2012 came into force from 01-07-2012.
The Liability under the Act can not be transferred since the Contractors has paid the tax that does not mean that you have not to pay the tax on 50% value.
Pay tax by GAR-7 with interest @ 18% PA and avail credit of the same under CCR,2004.
Thanks
The Liability under the Act can not be transferred since the Contractors has paid the tax that does not mean that you have not to pay the tax on 50% value.
Pay tax by GAR-7 with interest @ 18% PA and avail credit of the same under CCR,2004.
Thanks
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