Service tax on work contact
This query is : Resolved
16 February 2014
if person is providing service of
work contract under composit scheme what is rate of service tax?
work contract under composit scheme what is rate of service tax?
17 February 2014
VAT and Service Tax to be charged : 60% VAT and 40 % service tax.
I.e if billing is Rs 100, then 60% i.e Rs 60 VAT to be charged and 40% i.e Rs 40 service tax to be charged.
Aprat from than if Service Provider is Individual, HUF, AOP then service provider to be charged only 50% of his liability i.e in above case Service provider to be charged Rs 20 in the invoice and Rs 20 should be paid by the service receiver.
I.e if billing is Rs 100, then 60% i.e Rs 60 VAT to be charged and 40% i.e Rs 40 service tax to be charged.
Aprat from than if Service Provider is Individual, HUF, AOP then service provider to be charged only 50% of his liability i.e in above case Service provider to be charged Rs 20 in the invoice and Rs 20 should be paid by the service receiver.
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