About work contract & rcm
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 October 2013
I was filed Service tax return for period Oct 12 to March 13 & It was rejected due to Advalorem Rate(point no. B1.15)So my question is that:
1.what is rate of work contract? (i was taken rate @4.944% still it was rejected)
2.How much amount to be taken in Service tax payable Under RCM (Point B1.6),100% or 50% of gross value of service provided.
1.what is rate of work contract? (i was taken rate @4.944% still it was rejected)
2.How much amount to be taken in Service tax payable Under RCM (Point B1.6),100% or 50% of gross value of service provided.
02 October 2013
It looks that you are calculating service tax on original works contract @ 40% of 12.36%.
The correct way is to calculate value of service in works contract @ 40% of total value of works contract and apply service tax rate of 12.36%.
If RCM is applicable then rate of tax would be 6.18%
****For clarification and Premier service pl contact group.blr@gmail.com
*Disclaimer- all answers are given as per the facts narrated by you. Answer may differ after study of full facts/statements/agreements etc. involved in the case.
The correct way is to calculate value of service in works contract @ 40% of total value of works contract and apply service tax rate of 12.36%.
If RCM is applicable then rate of tax would be 6.18%
****For clarification and Premier service pl contact group.blr@gmail.com
*Disclaimer- all answers are given as per the facts narrated by you. Answer may differ after study of full facts/statements/agreements etc. involved in the case.
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