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Works Contract
Please inform me about Works Contrct, is there service tax applicable?, what is rate of service tax? is there any Abatment available? for example total contract is worth Rs. 75 lac. which include material of Rs. 25 lac. in this condition which amount is applicable for tax? is contract value affect the rate of tax.
Replies (2)
Works contract is a taxable service.
Service tax rate is 10.3% (incl. cess)
https://www.servicetax.gov.in/st-profiles/works-contract.pdf
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