Service tax on repair & maintenance work
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 March 2015
Dear all expert
i do provide repair & maintenance of electrical goods, metatarsals provided by me, to repair the electrical goods i do know the exact value of materials & service, i am service provider engaged in partnership firm and service recipient is company. please tell me how much percentage ST will be applicable and whether RCM will be applicable or not...
plz. reply
i do provide repair & maintenance of electrical goods, metatarsals provided by me, to repair the electrical goods i do know the exact value of materials & service, i am service provider engaged in partnership firm and service recipient is company. please tell me how much percentage ST will be applicable and whether RCM will be applicable or not...
plz. reply
S SRINIVASAN
(Expert)
20 March 2015
Dear Sir/Madam
WEF 01-10-2014 works contract where value of materials and service cannot be precisely bifurcated 70% will be the value of service and 30% will be the value of materials. In some states state VaT also will deem 75% as value of materials (if you have vat liability also)
Before 01-10-2014, 60% is value of taxable service.
RCM applicable as the recipient is a corporate entity and 50% of the tax to be collected by you and to be paid and 50% to be paid directly by the company. Your invoice should also disclose that 50% of tax will be paid by the service receiver. casrinivasantry@gmail.com
WEF 01-10-2014 works contract where value of materials and service cannot be precisely bifurcated 70% will be the value of service and 30% will be the value of materials. In some states state VaT also will deem 75% as value of materials (if you have vat liability also)
Before 01-10-2014, 60% is value of taxable service.
RCM applicable as the recipient is a corporate entity and 50% of the tax to be collected by you and to be paid and 50% to be paid directly by the company. Your invoice should also disclose that 50% of tax will be paid by the service receiver. casrinivasantry@gmail.com
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