Work Contract

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Guest

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06 July 2011 I am a work contractor can I opted composition scheme and which amount of service tax due an aother prescribed foam for composition scheme .

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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06 July 2011 Pl see section 65(105(zzzza) od Finance act,1994. If the work undertaken comes under that, the contractor can opt for compoundung under Works Contract (Composition Scheme for Payment of Service Tax) Rules, 2007. Rate of tax is 4.12% on the entire contract value. There is no prescribed form to apply for compoundung option.

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