Service Tax calculation on works contract?
This query is : Resolved
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.
Please guide about calculation of service tax on works contract.
& also what is abatement for service tax in construction field / works contract.
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.
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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