Rcm

This query is : Resolved

Accounting Home Services (Querist)
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26 October 2013 Dear Sir,

REPAIRS TO BUILDING UNDER WORKS CONTRACT (RCM)
WE ARE PUBLIC LTD CO.

TOTAL BILL AMT - 136780
EXEMEP40% - 54712
ST ON 60% - 82068
SERVICE TAX ON 60% AMT - 9845 BUT WE SHOULD PAY 50% AMT IT IS CORRECT N

Suresh Ramaswamy

Suresh Ramaswamy (Expert)
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26 October 2013 What is the status of the service recipient - i.e. the person whose building you are repairing. Depending on the status of SP and SR the RCM rate is decided.

Accounting Home Services

Accounting Home Services (Querist)
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26 October 2013 SR - PUBLIC LTD CO
SP - INDV (WHO IS NOT REGISTER UNDER ST

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Suresh Ramaswamy

Suresh Ramaswamy (Expert)
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27 October 2013 You are right the liability of SR under RCM 50% of the Service Tax irrespective of the status of the SP.