Valuation of service portion in works contract
This query is : Resolved
02 July 2013
I read the following Example some where .
There is A a contractor who construct the building
for B.A is purchase material from c . example as below to found taxable value on which service tax is charged
Gross amt. received by (A) excluding taxed Rs.95,00,000
Add: Fair market value of goods supplied by the service receiver excluding tax Rs.10,00,000
Less : Amt. charged by service receiver for such goods or service received by service provider Rs.5,00,000
The taxable valu is Rs. 1,00,00,000
Now in above example ,the service receiver is B .But in the line "Fair market value of goods supplied by the service receiver excluding tax " who is service receiver ? and in the line "Amt. charged by service receiver for such goods or service received by service provider " who is service receiver and service provider ?Plz explain me above example.
There is A a contractor who construct the building
for B.A is purchase material from c . example as below to found taxable value on which service tax is charged
Gross amt. received by (A) excluding taxed Rs.95,00,000
Add: Fair market value of goods supplied by the service receiver excluding tax Rs.10,00,000
Less : Amt. charged by service receiver for such goods or service received by service provider Rs.5,00,000
The taxable valu is Rs. 1,00,00,000
Now in above example ,the service receiver is B .But in the line "Fair market value of goods supplied by the service receiver excluding tax " who is service receiver ? and in the line "Amt. charged by service receiver for such goods or service received by service provider " who is service receiver and service provider ?Plz explain me above example.
08 July 2013
The SR is B and SP is A. In instant example is case where the goods are supplied by SR to SP for providing service...As ST is applicable on gross amount of service its value will be added therein.....
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