Partner
361 Points
Joined August 2009
Hi Saurabh,
If you are falling in Works Contact Service (which is effective from 01.06.2007) then you are required to pay service tax @ 10.30% from 24th Feb 09.
There is a compounding scheme as well for payment and effective rate is 4.12% but then you need to forgo the benefit of CENVAT.
Tell me your service classification in specific so that your rate can be decided as there are abatement notifications for different services.
Regards.