Service tax on work contract tax
This query is : Resolved
06 February 2015
We have make a contract with individual that for civil, carpentry, pop , painting work with approx. Rs. 1. cr and work contract tax applicable .
What is service tax applicable
if service applicable that what is the rate applicable
RCM applicable
cenvat applicable
amit
What is service tax applicable
if service applicable that what is the rate applicable
RCM applicable
cenvat applicable
amit
06 February 2015
Service tax payable at 12.36% on 40% of contract value if it is original work. In case on maintenance work it is payable on 70% contract value.
As service provided to individual no RCM applicable.
CENVAT credit on Input Services and Capital Goods Allowed As per explanation 2 of the determination of value rules, there is no restriction on claiming the CENVAT credit of Input Services and Capital Goods.
The provider of works contract service can claim CENVAT credit of Input Services and Capital Goods.
As service provided to individual no RCM applicable.
CENVAT credit on Input Services and Capital Goods Allowed As per explanation 2 of the determination of value rules, there is no restriction on claiming the CENVAT credit of Input Services and Capital Goods.
The provider of works contract service can claim CENVAT credit of Input Services and Capital Goods.
06 February 2015
Dear Sir,
Thanks ,
70% of above will be paid by provider or 50% by receiver and 50% by provider
Thanks ,
70% of above will be paid by provider or 50% by receiver and 50% by provider
06 February 2015
We can adjust against input cenvat , we are in service industries
07 February 2015
70% will be paid by service provider, you can adjust against input cenvat.
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