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Service tax on works contract

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R KUMAR (Querist)
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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

Ankit Gupta

Ankit Gupta (Expert)
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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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