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Service Tax on Works Contract

Service Tax (Legacy) 2433 views 8 replies

Somnath

Job

106 Points Posted on 06 September 2007

Dear All

If any body have any perticular circular related to service tax on works contract then please send it to me or give me some ref.

Regards

S.Mullick

Replies (8)

Late CA Sampat Jain

Chartered Accountant

4772 Points Posted on 06 September 2007

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Guest

460555 Points Posted on 07 September 2007

Refer the following notification of service tax No. 32/2007 dt. 22.05.07 & No. 29/2007 dt. 22.5.07

pankaj

finance

52 Points Posted on 07 September 2007

dear it wil be available on the service tax websites itself

pankaj

finance

52 Points Posted on 07 September 2007

dear it wil be available on the service tax websites itself

pankaj

finance

52 Points Posted on 07 September 2007

dear it wil be available on the service tax websites itself

D.C AHUJA

CONSULTANT

120 Points Posted on 17 September 2007

ONE HAS TO PAY TAX ON WORKS STARTED AFTER JUNE 2007 IN EITHER WAY IE COMPOUNDING OR ASSESMENT BUT FOR WORKS PRIOR TO JUNE THERE STILL ARE MANY COTROVERCIES YET TO BE CLEARFIED BY GOVT.

Guest

460555 Points Posted on 17 September 2007

I want to know the details of payment service tax of 2% on works contracts instead paying normal service tax of 4.08%. Kindly help me in this regard wat are the steps to be taken on this issue to pay this service tax of 2%.

D.C AHUJA

CONSULTANT

120 Points Posted on 17 September 2007

2% PAYMENT IS FOR COMPOUNDING SCHEME AND APPLICABLE ON WHOLE CONTRACT.IF YOU CHOOSE FOR ASSESMENT THAN AFTER GETTING ABATEMENT OF 67 % ON BALANCE YOU HAVE TO PAY 12.36 % TAX WHICH WILL BE ABOUT 4.5 %.