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.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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