Work contract
This query is : Resolved
Ramesh Babu
(Querist)
18 September 2013
Material Cost @67% calculated on Taxable Amount and Labour cost 33% calculated on Taxable amount, service tax calculated on Labour cost (33 x 12.36% = 4.0788%). 4.0788% calculated on total Taxable amount.
Material- 1,59,01,413 x 67% = 1,06,53,946.71.
Labour - 1,59,01,413 x 33% = 52,47,466.29
Service Tax - 1,59,01,413.00 x 4.0788% = 6,48,586.833
Service Tax - 52,47,466.29 x 12.36% = 6,48,586.833
Is it Correct or not????
Material- 1,59,01,413 x 67% = 1,06,53,946.71.
Labour - 1,59,01,413 x 33% = 52,47,466.29
Service Tax - 1,59,01,413.00 x 4.0788% = 6,48,586.833
Service Tax - 52,47,466.29 x 12.36% = 6,48,586.833
Is it Correct or not????
CA Vikas Acharya
(Expert)
19 September 2013
correct
both method correct
but there is no more any 67% abatement
for new rules see notification 26/2013 or service tax valuation rules
both method correct
but there is no more any 67% abatement
for new rules see notification 26/2013 or service tax valuation rules
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