Dear Sir,
We are EPC contracors and quoted for one composite in which supply and labour portions are involved. As we are epc contractors, we are not taking any input credit.
Could any one please let me know the rate of service tax applicable in this work?
Advance thanks.
This is a worsk contract and the possible rates are :
A. Under composition - 4.12%
B. Under Not 12/2003 - Dedcution for amount on which VAT paid and on balance 10.#%
In both options credit for inputs NOT available. But credit for input serviuces + capital goods available.
Shyam S Gupta and Company
New Delhi
CA Inter
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AJAY SINGH AND CO LLP
Thane
CA Final
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M N Rao & Associates LLP
Vijayawada
CA Inter
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CCI
Pro
CAclubindia
