Valuation under works contract service
This query is : Resolved
09 June 2013
If an individual is SSP providing works contract service to company, than valuation for service tax will be made directly on 50% and accordingly pay service tax or tax will be paid on 40%, 60% or 70% as the case may be.
09 June 2013
Reverse charge under work contract service:-
1)50% tax by service receiver if service provider of works contract service is individual, HUF, proprietary or partnership firm or AOP.
AND service receiver is business entity incorporated as body corporate.
2)50% service tax is payable by service provider and 50% by service receiver. The service receiver liable for 50% even if service provider does not charge service tax.
Thanks & regards
Ganesh babu K
1)50% tax by service receiver if service provider of works contract service is individual, HUF, proprietary or partnership firm or AOP.
AND service receiver is business entity incorporated as body corporate.
2)50% service tax is payable by service provider and 50% by service receiver. The service receiver liable for 50% even if service provider does not charge service tax.
Thanks & regards
Ganesh babu K
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Gift of mutual fund units to daughter
- Under construction property in ITR
- Reporting of STCG on Property in ITR
- Building tax payment deduction in rental Income
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
