16 August 2012
As per service tax (Determination of value) Rules,2006 If any option to the service provider tax liability (Rule-2A under works contracts )composition rate of service tax @4.12% is it correct/not
16 August 2012
Composition rate is abolished and now if you are a works contractor, for original work you have to pay service tax on 40% of the value (Rule 2A) which will work out to 4.944%. Also see the reverse charge notn for paying 50% of the amount.
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