Rcm
This query is : Resolved
28 September 2015
Sir
I would like to have Reverse charge Mechanisim details. We are works contract and construction of civil works. We have painting contractors. How to take Centvat Credit and RCM payment. RCM is 100% or 50% of tax or explain in details.Shall we take 100% for RCM.
I would like to have Reverse charge Mechanisim details. We are works contract and construction of civil works. We have painting contractors. How to take Centvat Credit and RCM payment. RCM is 100% or 50% of tax or explain in details.Shall we take 100% for RCM.
06 October 2015
Under the RCM on work contract services you need to pay service tax on 50% of the assessable value of the contract. You can not take the cenvat credit.
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