New User / Register | Bookmarks | Annual Subscription | Feedback |
Login: Stay
| Forget Password |
           
TMI - Tax Management India. Com  

 
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

Updates Knowledge Sharing Subscription Communication Newsletters More Options




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