Wct service , service tax paid on receipt basis???

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 March 2013 Dear Expert,

I am providing Work Contract Service & Civil work services.

my previous year turnover of business is less than 50 lacs.

whether i have to pay Service tax on accrual basis or payment basis.??

one more query is that,

i had service tax @ 4.94%(WCT-Reverse charge) & @12.36% (Civil work-labour charges) on accrual basis, but party while making the final payment , our Bill amount is reduced by 1.25 lacs, but we had paid the service tax on orginal bill amount.

whether we can adjust the excess Service tax paid in future???

pls reply asap.

CA Mahavir Shah

CA Mahavir Shah (Expert)
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22 March 2013 You can pay service tax on receipt basis.
Yes you can adjust excess service tax paid in future.

Querist : Anonymous

Querist : Anonymous (Querist)

22 March 2013 Sir, my turnover will exceed up to around 57 lacs.

I am doing separate working for WCT(reverse charges) and Labour work (@12.36%).

SIr, In WCT, we are charging MVAT also,suppose if the party made sum correction in final bill after filing the VAT return, can i revised the return in order to show the exact sales amount.??

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Rajnish Singh

Rajnish Singh (Expert)
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22 March 2013 Dear Sir,

Whether you provide the WCT and as you mentioned above that you pay service tax under composition scheme @4.94%.

service tax will be paid on payment recd or invoice raised or after 30 days of work complition which ever is earlier.

on service part tax will be charged @12.36% .

if you have input you can claim the same.

you can revise your return with in time frame.