Service tax & vat of works contract

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 December 2012 Kindly let me know how to calculate service tax & vat in works contract as per latest service tax rules.

UMESH KUMAR PANDEY

UMESH KUMAR PANDEY (Expert)
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26 December 2012 Mr. dear,
at first you rise the bill including vat on the material value after that add the service tax on the services value and collect the payment then deposit the vat & st before the due date.

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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28 December 2012 Mr Author,
VAT is payable on the value of goods onsumed in the works contract or Goods value can be taken at 70% and service value at 40% of receipts. VAT @14% and ST @ 12.36%.If under composition it 4% or 5%(as per the state) and 4.8% for ST...MJK

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