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Service Tax calculation on works contract?

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(Querist)
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.
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CA MOHIT VAATS

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CA MOHIT VAATS (Expert)
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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