SERVICE CHARGE REVERSE CHARGE MECHANISM FOR SUB CONTRACTS
WHAT IS THE EFFECTIVE RATE PAYABLE FOR SERVICE RECEIVER, IS THAT
TOTAL VALUE * 50%*14.5%?? CORRECT ME IF AM WRONG ??
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St reverse charge mechanism
Replies (4)
Sub contract?
Are you talking about works contract?
yes for works contract
Yes it would be Total Value*14.50%*50%.
I THINK VALUE OF WORKS CONTRACT INCLUDES MATERIALS & LABOURS
CALCULATION OF WORKS CONTRACT
TOTAL VALUE*40%*50%*SERVICETAX RATE
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