WE ARE PVT LTD CO, REGISTERD IN SERVICE TAX. WE CONSTRUCTED A BUILDING IN WHICH RS 700000.00 WE INCURRED ON BUILDING MATERIAL & RS 3000000.00 LAC PAID FOR LABOUR. PLEASE TELL US ON WHICH AMOUNT SERVICE TAX IS PAYBLE & HOE MUCH ? THANKS & REGARDS
13 August 2013
As per rule 2A of the ST valuation rules where the actual material value is known then only on the balance ST need be paid. However if one were to take ad hoc deduction then there maybe disputes.
CAclubindia
