ABC is having 2 Different works Contract in one financial year. 1. In contract No. 1 he is able to identify the value of materials and Value of service separately so he applied Rule 2A(1) for determining the value of taxable service. 2. In the Contract No. 2 he is not able to Identify the Value of Service and Materials separately so he wants to apply Rule 2A(2).
Now the Query is; 1. weather there is any restriction that same person can not use different - different rule for the same financial year? 2. weather ABC can use Rule 2A(1) for Contarct 1 and Rule 2A(2) for Contract 2?
11 April 2016
The valuation that is given in Rule 2A is given based on a works contract and not period based. Hence different methods of valuation can be used for different WC even in the same year
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