Service Tax calculation on works contract?

This query is : Resolved

Hanmantu N.Sai (Querist)
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09 August 2008 Hi,

Please guide about calculation of service tax on works contract.

& also what is abatement for service tax in construction field / works contract.

CA MOHIT VAATS

CA MOHIT VAATS (Expert)
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20 August 2008 the rate of service tax in case of works contract has been enhanced to 4% on the gross value.

In case of composite scheme of works connntract the rate of service tax shall be 4% on the gross amount charged by vendor.

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