Service tax on works contract
This query is : Open
15 July 2013
Our client is engaged in executing works contract.Total value is Rs 30 lakhs.The turnover which will subject to Local VAT is 19 lakhs. What will be his service tax liability under notification 24/2012 if
1. HE ADOPTS NORMAL METHOD
2. IF HE ADOPTS COMPOUNDING METHOD (He is executing original works - 1st option given in the clause of the notification.)
Thanks
R Kumar
1. HE ADOPTS NORMAL METHOD
2. IF HE ADOPTS COMPOUNDING METHOD (He is executing original works - 1st option given in the clause of the notification.)
Thanks
R Kumar
Ankit Gupta
(Expert)
17 July 2013
In my opinion if you are not paying VAT on actual value of property in goods transferred in the execution of work contract then you should may service tax on 12 lakhs and also check SSP exemption
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