Service tax for work contract

There is no abatment Available in Work Contract. U will have to pay 4.944% service tax on revenue

Thank u very much sir .

For an example;

Bill Amount. 100000/-

Less Retention 2.5% Rs. 2500/-

Add Service Tax 12.36% Rs. 12051/-  then

Less TDS 1% Rs.1905.50 then he issue me the final payment.

(100000-2500=97500+12051=109551-1095.50=108455.50)

My question is on which amount that I shall calculate 4.944%

I will be appreciate if could clear my doubt.

Thanks in advance

Suraj

what is the difference between a job worker and work contract tax.

Sir, our service tax ST-2 has registered as work contract, but we are providing only labour no material,

One more thing sir how to bifurcate 12.36 %
i mean what would be the tax % and what would be the cees

once again thank you very much.

 

Dear Mr. Suraj

Here 12% is Service Tax

             2 % Education Cess on Service Tax amount

             1% Higher Education Cess on Service tax Amount

If you are Paying Total  Rs.123.60 as a Service tax and Want to Know Service Tax Amount and Cess Amount then Use Following Formula 123.6 x 12/12.36= 120..... It Will be Service tax amount after That 2% of 120 and then 1% of 120...

Thanx....

I appreciate sir,

Shall we pay service tax monthly or quarterly, is there any interest charge for quarterly payment?

Hey , Our Compnay is working for a project in Madhya Pradesh , We are the EPC contractor.. 

I need to get the clarification since the project is under JNNRUM and water supply project are been excie exempted, service tax is being paid by our company. 

However in my earlier company L& T they didnt pay the service tax.

Can anybody just help me in clarifying the doubt  and help me with any documents.

Service tax pays in Following Month at 5th......... after this payment 18% interest is Charged