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.
Ganeshbabu K
(Expert)
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
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