Poonawalla fincorps
Poonawalla fincorps

Variability in service tax charging

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(Querist)
20 March 2014 please clarify adaptability in charging with a service tax percentage of 4.12% in execution of electrical original work. noticed in invoice copy
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
21 March 2014 In case of works contract Rule 2A provides that the value in case of original works shall be 40% of the total invoice value.

Accordingly service tax rate will be

12.36% * 40% = 4.12%

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