Service tax in case of a works contract

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CA.Aparna Bhosale (Querist)
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03 October 2013 Whether Service tax will be charged on the Gross Amount including material and Labour incase of Works Contract?

CA Vijeta Verma

CA Vijeta Verma (Expert)
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04 October 2013 If service portion can be determined from the computation
GAC-value of goods transfered-vat=Service portion ,then use this computation
Else,if service portion is not ascertainable
then
Gross amount charged for whole contact+FMV of goods supplied by service reciever excluding taxes-amount charged(if any) by the service reciever for supplying those goods
Balance amount will be "total amount charged".

Now out of this amount take service portion as 40%/60%/70% for original works contract,completion & finishing work contract,mainteance & repair contracts of movable goods respectively

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