New User / Register || Book Marks || Annual Subscription || Feed Back ||
Login: Stay
|| Forget Password ||
TMI - Tax Management India. Com  

Recent Discussionss:

Export goods from other manufacturer Service tax applicability on Directors remuneration Payment Made in Wrong Code TDS Payment done 94C instead of 94J Service tax on transport of coal to bio power plant court fee for filing appeal before Commssioner (Appeals) Re: Labour of supply works Service Tax on Services provided in J & K state interest rate on vat tax paid by late Revision/amendment in Shipping Bill
Discussions Forum
Home Forum Service Tax Month 4 2009 2009 (4) This
← Previous Next →

Calculation in WCT - Service Tax

Issue Id: - 1110
Dated: -18-04-2009
By:- madhavvan
Calculation in WCT

under works contract tax in service tax how the service tax to be charged is this right Contract value Rs. 100 Less VAlue of property transferred Rs. 40 Less VAT Rs. 5 Net value for WCT ST Rs 55 Service tax @10 % on Rs. 55 ie Rs. 5.5 pls confirm

Post Reply
Previous Posts

Dated: - 20-04-2009
By: - Madhukar N Hiregange

AS I understand the contract value is all inclusive Rs100. Deduction for materials Rs. 40 + 5 for VAT is admissible under Not.12/2003 as well as under the WC Valuation. If so 55 includes ST of 10.3 %. Therefore divide 55 by 110.30 and multiply by 10.3% for the result. Another option is to opt for composition and pay 4.12% In both the options the credit on capital goods used for provding the service and the input services credit wouldbe available.

Dated: - 20-04-2009
By: - madhavvan
what about service tax credit on inputs is its available under both options

Previous Next


what is new what is new

UpdatesKnowledge SharingSubscription CommunicationNewslettersMore Options

Go to Mobile Website Go To Top
© [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.