Reverse charges on construction industry

Notifications 728 views 1 replies

As per Notification No.30/2012, whether a Company registered under Companies Act 1956, being a service provider on works contract has to pay service tax   @ 50% w.e.f.01-07-2012

Prasad

 

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service portion in execution of a works contract;

by any individual, Hindu Undivided Family or partnership firm, whether registered

or not, including association of persons, located in the taxable territory to a business

entity registered as a body corporate located in the taxable territory. Thus the nature

of the service and the status of both the service provider and service receiver are

important to determine the applicability of partial reverse charge provisions.


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