one of my clinet has taken an AMC of Generator from an oil company . The contract includes repair, service & replacement of Parts. But today we dont know that how much amount on parts will be spent. I want to know on what amount service tax will be charged & when i will change the parts of generator then what the amount of vat will be charged.
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Tax applicablity on AMC
Replies (2)
You have to charge Service tax 10.3% on your service and repair charges.
You have to charge VAT on parts 12.5%
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As per notification no. 12/2003 as amended by 12/2004, CG has exempt from whole of service tax the value of taxable service as is equal to the value of goods and materials sold by the service provider to the recipient of service provided there is documentary proof specifically indicating the value of the said goods and materials.
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