Works contract tax
This query is : Resolved
28 December 2013
sir,
we have started a pharmaceutical manufacture company , where we gave a contract for construction of a plant and paid some amount
1. my question is whether we should deduct works contract tax on the paid amount ?
2. what are the rates apllicable for it ?
3. from where i can get this tax details ?
we have started a pharmaceutical manufacture company , where we gave a contract for construction of a plant and paid some amount
1. my question is whether we should deduct works contract tax on the paid amount ?
2. what are the rates apllicable for it ?
3. from where i can get this tax details ?
30 December 2013
I need more details about your query:
1) whether you have given under works contract (Material + labour)?
If you have given it on works contract basis then reverse charge is applicable where in you have to pay Service at 50% of the tax liability and service provider has to pay 50% of the tax liability.
Tax rate depends on the type of work for which you can refer my article available in the below link: refer Rule 2A(i) Rule 2A(ii)and section 67
https://www.caclubindia.com/articles/service-tax-on-construction-industry-overview-18781.asp#.UsBsKPQW0XM
1) whether you have given under works contract (Material + labour)?
If you have given it on works contract basis then reverse charge is applicable where in you have to pay Service at 50% of the tax liability and service provider has to pay 50% of the tax liability.
Tax rate depends on the type of work for which you can refer my article available in the below link: refer Rule 2A(i) Rule 2A(ii)and section 67
https://www.caclubindia.com/articles/service-tax-on-construction-industry-overview-18781.asp#.UsBsKPQW0XM
30 December 2013
sir
our contract is like , we just pay money and contractor will bring all the material required and do construction .
our contract is like , we just pay money and contractor will bring all the material required and do construction .
30 December 2013
Hi,
Then it is considered as works contract please refer article
https://www.caclubindia.com/articles/service-tax-on-construction-industry-overview-18781.asp#.UsESOfQW0XN
Then it is considered as works contract please refer article
https://www.caclubindia.com/articles/service-tax-on-construction-industry-overview-18781.asp#.UsESOfQW0XN
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
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- TAN for Partnership
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- E way bill for tractors
- STCG FOR GOLD ETFs
- Specified Profession
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
