Service Tax on Free issue of HSD
This query is : Resolved
15 December 2010
A Contractor executing Rs. 10 crores works as a Minning for extraction of stone for construction of road. HSD was issued by the main contractor with free of cost worth Rs. 5 Crores will be taken as gross value Rs. 15 Crores or 10 Crores for discharge of Service Tax Liability in both the scheme for subcontractor.
kindly clarify
kindly clarify
Shyam Lal Naik
(Expert)
20 December 2010
The supply of HSD is nothing but non monetary consideration.
The price of the said HSD has to be added to the monetary consideration to arrive at the taxabla value.
Rs.15/- Crore.
The price of the said HSD has to be added to the monetary consideration to arrive at the taxabla value.
Rs.15/- Crore.
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