Dear Friends,
I want to know in case Work Contract Services, A Company receives Work Contract Service from an Individual and such individual has charged Service Tax in Invoice @ 4.944% on Taxable Value (100% Value). Service Receiver Company has paid 4.944% service tax on bill to Service Tax provider and provider has deposited that amount with Govt A/c.
(As per Service Tax Reverse Charge Rules, There should be 50% of 4.944% should be charged by Service Tax Provided and balance should be paid by Service Tax Receiver @ 50% of 4.944%).
Pls advise, whether company would be liable to pay that 50% of 4.944% even in when company has paid 100% of 4.944% to Service Provider.
Pls suggest and may confirm for any query.
Thanks
CAclubindia
