Changes in value of service in composite bill of work contra
This query is : Resolved
19 November 2014
Is there any change in rate for taxable value of services in composite bill of service and material in work contract.
Some contractor said that it has been reduced from 40% to 30% as value of service.
But i could not find any circular saying such on site. If any body knows pl tell me.
Some contractor said that it has been reduced from 40% to 30% as value of service.
But i could not find any circular saying such on site. If any body knows pl tell me.
19 November 2014
Dear Sir,
As per notification No.11/2014-ST Dated 11.07.2014, with effect from 01.10.2014, sub-cluase (B) & (C) of rule 2A(ii) of service tax (determination of value) rules,2006, only sub-clause (B) has been inserted with taxable portion of 70%. Earlier there was taxable portion of 40%, 70% & 60%. This 60% has been replaced with common 70% slab. Please read the notification for details.
As per notification No.11/2014-ST Dated 11.07.2014, with effect from 01.10.2014, sub-cluase (B) & (C) of rule 2A(ii) of service tax (determination of value) rules,2006, only sub-clause (B) has been inserted with taxable portion of 70%. Earlier there was taxable portion of 40%, 70% & 60%. This 60% has been replaced with common 70% slab. Please read the notification for details.
19 November 2014
Dear Sir,
As per notification No.11/2014-ST Dated 11.07.2014, with effect from 01.10.2014, sub-cluase (B) & (C) of rule 2A(ii) of service tax (determination of value) rules,2006, only sub-clause (B) has been inserted with taxable portion of 70%. Earlier there was taxable portion of 40%, 70% & 60%. This 60% has been replaced with common 70% slab. Please read the notification for details.
As per notification No.11/2014-ST Dated 11.07.2014, with effect from 01.10.2014, sub-cluase (B) & (C) of rule 2A(ii) of service tax (determination of value) rules,2006, only sub-clause (B) has been inserted with taxable portion of 70%. Earlier there was taxable portion of 40%, 70% & 60%. This 60% has been replaced with common 70% slab. Please read the notification for details.
Message likes :
1 times
19 November 2014
Thank You Very Much Sir,
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Should I report my US salary for January, February, March in Schedule FA?
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
