Valuation method for service tax

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I have to take service tax registration no. for pvt. ltd co. providing services in building commercial /residential complexes.

1. on what amount service tax   to be paid...on  advance amount or gorss value???

2. please give the valuation method for commercial and residential complex service in whch service tax paid @ 10.3% on value of service - material & land or additional service + profit margin ?????



is it as per CAS(cost accounting standard)-4 or any specified method as per CBEC ???

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On 08 July 2011 at 15:42 Report
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Chartered Accountant
2083 Points Joined February 2011

For composite contracts you can opt for composition and pay 4.12% on the gross contract amount including materials.

For others

If labor and material can be segeragated,  10.3% on the value of labour.

Alternatively, claim 67%(75% if value of land is included)  abatement and pay tax @ 10.3% on balance amount.
 

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On 09 July 2011 at 15:50
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Chartered Accountant
39039 Points Joined September 2008

The option choosen under VAT would be important as well as the agreements entered into for advising which choice is best.

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On 10 July 2011 at 11:16


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