Service tax
This query is : Resolved
06 August 2012
service tax applicable to contractual services, whether material cost is to be execluded and what will be the percentage of service tax for remaining service?
06 August 2012
https://www.servicetax.gov.in/st-profiles/works-contract.pdf
Message likes :
1 times
06 August 2012
The service tax is to be paid @ 4.8% + 3% cess on service portion which is to be determined on the following basis :
Gross amount inclusive of cost of goods and services - Only Value of goods (intimated to sales tax department).
If the value is not ascertained, then separate provisions are there such as 40% of gross amount charged, 70% of gross amount charged and 60% of gross amount charges is to be taken for the purpose of service tax. You may refer the notification no. 24 dated 06.06.2012 of service tax.
Gross amount inclusive of cost of goods and services - Only Value of goods (intimated to sales tax department).
If the value is not ascertained, then separate provisions are there such as 40% of gross amount charged, 70% of gross amount charged and 60% of gross amount charges is to be taken for the purpose of service tax. You may refer the notification no. 24 dated 06.06.2012 of service tax.
Message likes :
1 times
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
- Post Office RD Interest
- Reporting Income under Section 44ADA
- Itr 1 processing
- Building and other construction workers welfare cess act 1996
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Bank Accounts in Balance Sheet for ITR 3
- TDS ON CASH WITHDRAWALS...
- Eway bill for machinery reparing
- Annual return of gst limit
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
