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
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Service Tax on Works Contract
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Refer the following notification of service tax No. 32/2007 dt. 22.05.07 & No. 29/2007 dt. 22.5.07
dear it wil be available on the service tax websites itself
dear it wil be available on the service tax websites itself
dear it wil be available on the service tax websites itself
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.
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%.
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 %.
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