THE SERVICE TAX FOR WORKS CONTRACT FOR CONSTRUCTION OF INDUSTRIAL BUILDING UNDER COMOSITION SCHEME WHETHER WE HAVE TO PAY ST ON WHOLE CONTRACT VALUE LESS VAT OR WE CAN DEDUCT MATERIAL USED AS PER NOTIFICATION 29 / 2007/DATED 1.6.07.
WHETHER THE SERVICE RECEIVER CAN TAKE INPUT CREDIT ON OUTPUT COMPOSITION SERVICE TAX PAID AMOUNT.
PL.. URGENT
For payment of ST under composition scheme, assessable value shall be the gross value including thre value of materials. The service reciver can take input credit of ST paid on composition scheme
can u please quote the relevant case or notification.......
You may refer Rule 3 of Works Contract (Composition scheme for payment of Service Tax) Rules,2007.
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