WORK CONTRACT
This query is : Resolved
04 May 2009
REQUIREMENT FOR REGISTRATION IN WORKS CONTRACT, RATE OF TDS/WCT/SERVICE TAX ETC.
IF ANY CHANGE FOR WORK CONTRACT FOR ROAD CONSTRUCTION WITH MATERIAL.
IF ANY CHANGE FOR WORK CONTRACT FOR ROAD CONSTRUCTION WITH MATERIAL.
05 May 2009
Registration under Punjab VAT Act is required if Works Contract to be done include material as VAT has to be paid on material value included in Works Contract. TDS to be deducted by payor @ 2.27% or 2.06% as applicable. Service Tax to be paid @ 10.36% for service provided from 24.2.09 only on service portion and not on material portion included in value.
In case of Road Construction, service tax is exempt. However VAT is applicale on the same if includes material.
In case of Road Construction, service tax is exempt. However VAT is applicale on the same if includes material.
05 May 2009
The service tax rate may be read as 10.30% instead of 10.36% as given above by Ms.Neha.
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