11 May 2012
MY CLIENT IS DOING BUS COACH REPARING JOB CONTRACT FOR BEST BUS IN MUMBAI HE IS HOLDING SERVICTAX REGISTRATION NO AS WORKS CONTRACTOR WHAT IS THE RATE OF SERVICETAX PAYABLE UNDER COMPOSITION SCHEME WHETHER ANY ABATEMENT AVAILABLE UNDER THE COMPSOTION SCHEME WHETHER THERE IS ANY OTHER METHOD OF SERVICE TAX PAYABLE WITH ABATEMENT & RATE OF SERVICETAX OTHER THEN COMPOSTION SCHEME.
To the best of my knowledge, Bus coach repairing services can not be said as works contract Service. In order to fall under works contract service there has to be transfer of property in goods involvement.
If your service falls under works contract service then the rate of service tax at present will be 4.944(40% of 12.36%).
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