I am a Construction Manager!
Can you please tell me the prevailing rates for different construction activities for construction works i.e.
Taxes applicable for RA Bills
Taxes applicable for deduction from petty contractors
Taxes to be charged from different bodies from contractors
CST, Exise, WCT, TDS, IT, LWT etc.
Thanks,
Arvind
Dear
If its a commercial construction 10.3% service tax applicable on 33% of the Work Value (67% abatement) & 2% TDS applicable. If its a residential construction a minim no. of flats should be there (check service tax web site for a clear picture) otherwise no service tax applicable. VAT is applicable on purchase of materials as per the seller's bill (5%,14.5%,1% etc). Payment made to contracotrs 1% to be deducted on payment exceed the limit for individuals & 2% in case of Company. Tax applicable for Professional fees viz., Archteict ,Auditor also applicable.
CCI
Pro
CAclubindia
