We are civil construction firm and charging 4.944% as service Tax. Whereas experts are advised to charge3.71% as ST. Please advise and describe about the abatement.
G.srinivasan
Menu
Service tax & tds
Replies (1)
Sir,
In case of works contract service 60% abatement is provided where works contract is for execution of original works i.e 12.36% - 60% =4.944%
while in case of construction services where building,commercial complex, civil structure is constructed then 70% abatement is available i.e.12.36-70%=3.71% but if u r constructing residential unit having carpet area less than 2000 square feet and amount charged is less than 1 crore then 75% abatement is available.
Recent Topics :
- Hi experts needed some help
- Gift of Immovable Property u/s 92 of Income Tax Ac
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
- Hi experts need some help
- Is SAP FICO a good career option for finance and a
- Direct Cost booking
- TDS on Property Purchase Paid
- Cash Purchase Above ₹10,000, ITR/40A(3) Trea
- TDS on dividend to non resident shareholders
Related Topics :
CAclubindia
