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Queries regarding works contract

Notifications 595 views 2 replies

Rupesh

Student CA IPC / IPCC

89 Points Posted on 07 December 2013

What is taxable value under works contract with detail notification no.

1.Original works contract

2.Repairs & Maintanance works contract

3.Other works contract

4.If works contract includes value of land

Please Reply

Replies (2)

GAUTAM SHARMA

Audit Assistant

353 Points Posted on 07 December 2013

Please Refer Service tax valuation rules. Rule 2A of STVR deals with works contract.refer 25/2012

However if value of land & Building is including , then it is a construction service. Please Refer 26/2012

CA SHRAVANA DOTA

ACA

125 Points Posted on 07 December 2013

Refer service tax notification number 24/2012 for valuation of works contract under Service Tax Determination of Value Rules 2006. For determining the abatement in respect of construction contracts wherein value of land is included, refer service tax notification number 26/2012 (principal notification) as amended by Service tax notification no. 2/2013 and 09/2013.