Dear All,
One company is registered under Works Cont. Service under Composition Scheme. It also sub-contracts part of the contracted work & this sub-contractor is also registered under Works Cont. Service under Composition Scheme.
Question:
1) Whether the company can take credit of service tax paid on bills received from its sub-contractors?
I think it is yes.
Plz clear my doubts.
Thanks
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Input services credit in works contract service
Replies (1)
Certainly you can as long as you are under either compoistion or u/n 12/2003.
However the option under Not 1/2006 [ deduction of 67% = payment on 33%] does not allow credit and should be avoided.
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