TMI BlogABATEMENT ON WORK CONTRACTX X X X Extracts X X X X X X X X Extracts X X X X ..... Respected Sir, Is there abatement in respect of WCT Services ?? I mean whether the abatement of 75% OR 70% (as the case may be) in Sl. No. 12 of NN. 26/2012 would be available to work contractor engage in construction of building /complex under composite contract ? - Reply By CS SANJAY MALHOTRA - The Reply = Hi Rahul, Please go through Notification No. 09/2013-ST dated 08.05.2013, sam ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e will clear your doubts. 12. Constru c t i on of a c omp l e x , bui l din g , c iv i l stru c ture or a p a rt the re o f , in t e nd e d for a s a le to a bu y e r , whol l y or p a rt l y , e x ce pt wh e re e nt ir e c onsid e r a t i on is re c e ived a f t e r is s u a n c e o f c omp l e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t i on ce rtifi c a te b y the c ompet e nt autho r i t y ,- ( a ) f o r a r e si d e n t ial unit s a t i s f y i n g both the following c ondi t ion s, n a me l y : (i) the ca r p e t a r e a of t h e un it is less than2000 squa r e f e et ; and (ii) the a mount c h a r g e d fo r the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unit is l e ss than r up ee s one c ro r e ; ( b) for oth e r th a n the ( a ) a bov e . 25 30 (i) CEN V AT c r e dit on inpu t s used for p r ovid i ng the ta x a ble s e rvi c e h a s not b ee n tak e n und e r the p r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ovis i ons o f the CEN V AT Cr e dit Rules, 2004; (ii) The v a lue of land is includ e d in the a mount c h a r g e d f r om the s e r v ice r e ce i v e r. . - Reply By CS RAHUL AGARWAL - The Reply = Thank you Sanjay Sir. But still it is not cleared. May be there some mistake in the way i am asking. I just want to know whether the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... abatement as provided in Sl. No. 12 of NN 26/2012 (as ammended by NN. 09/2013 ) for construction of complex, building would be extended for Work Contract ? - Reply By CS RAHUL AGARWAL - The Reply = I mean what would be difference if a person engage in execution of work for construction of complex in a composite contract AND a person engage in construction of building service involving goods ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... service ?? I belive still construction service is into picture after 2007 when WCT was introduced. - Reply By Keshav Murthy - The Reply = Respected Sir, The Works contract includes construction of building as the definition of Works contract is as follows means a contract wherein transfer of property in goods involved in the execution of such contract is leviable to tax as sale of goods a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd such contract is for the purpose of carrying out construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation, alteration of any movable or immovable property or for carrying out any other similar activity or a part thereof in relation to such property If you are claiming abatement under NN 26/2012 the value should include land cost also, t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hen the abatement of 75% or 70% can be claimed not when only construction activity carried out then the taxable value should be 40% as per valuation rules. - Reply By CS RAHUL AGARWAL - The Reply = Thank you so much Keshav Murthy Ji. This confirmation only i needed to my understanding. Thanks a lot - ABATEMENT ON WORK CONTRACT - Query Started By: - CS RAHUL AGARWAL Dated:- 27-7-2015 Service T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax - Got 5 Replies - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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