sir,
we r apvt.ltd.co, working as a builder, we gave the works cotract ( excluding cement & steel),
my querry is that when works contractor raised the running bill, then at what amount he will charge service tax,
bcoz in notification no. 29/2007, mention the value of work contract service determined shall be equivelent to the gross amount charged for the works contract LESS the value of TRANSFER OF PROPERTY IN GOODS INVOLVED IN EXECUTION OF WORKS CONTRACT, and LESS VAT TAX,
then in the case of works contract we will deduct all material used in execution of work contract is it right ?
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service tax on works contract