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Composition scheme-service tax [in works contract]

rates 3314 views 2 replies

Gunasekaran loganathan

33 Points Joined May 2012

Rate of Service Tax in composition scheme for Works contract

->4.8% with effect from 1.4.2012; Notification no:10/2012-Servie tax dated 17.03.2012 &

->4% with effect from 1.3.2008; Notification no:07/2008-Servuce tax dated 01.03.2008.

-> up to 01.03.2008, the rate of Service tax was 2%.

? Kinldy anyone furnish the details of notication for Service tax for composition scheme @ 2% and with effect from which date.

Thanks.

Replies (2)

RENGARAJ R.K

ADVOCATE

7557 Points Joined October 2010

Notification No.32/2007-ST dt 22.05.2007. 2% composition is effective from 01.06.2007.

rengaraj r.k

Ajit kumar Dubey

Taxation Manager

637 Points Joined September 2008

valuation of service portion in a Works Contract has changed. Now the valuation sholud be as per Rule 2 clause (ii) of the Service tax (Determination of Value) Rules, 2006. kindly update yourself with the above said rule or else will have to face undue hardship with the Department.