service tax
This query is : Resolved
14 February 2011
what amount is included in calculation of service tax in case of construction business
material,steel,vat on both, labour
and what should be deducted
material,steel,vat on both, labour
and what should be deducted
16 February 2011
works contract catgeory:
Opt- 1 pay 4.12% on gross value including material. Credit only on capital goods + input services
Opt- 2 pay ST on value after deducting value on which VAT paid under regular scheme [ maybe 70% or actaul material may have sufferred VAT- if os on balance 30% or 100 minus value offerred for VAT]Credit only on capital goods + input services.
Opt- 3 pay ST on gross value and avail credit on inputs + input services +capital goods.
Opt- 1 pay 4.12% on gross value including material. Credit only on capital goods + input services
Opt- 2 pay ST on value after deducting value on which VAT paid under regular scheme [ maybe 70% or actaul material may have sufferred VAT- if os on balance 30% or 100 minus value offerred for VAT]Credit only on capital goods + input services.
Opt- 3 pay ST on gross value and avail credit on inputs + input services +capital goods.
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