20 April 2013
In Work Contract Service if assessee has opted for paying service tax under composition scheme(i.e. 40%, 60% & 70% taxable)than in mid-year assessee can pay service tax at regular scheme i.e. @ 12.36%
option to pay tax on 40%, 60% or 70% is not a composition scheme. these % are given to take service part on assumptive basis when actual bifurcation of material and service part is not possible.
And these option are available for "a works contract", so if you can determine acual service portion of 1 works contract then you can pay service tax on such part @12.36% and if you can not determine actual service protion in 2nd works contract then you can pay service tax on assumptive reduced value. But practically it is a difficult task to do like this. So better go for 1 option ( either 12.36% on reduced assumptive value or 12.36% on actual service portion calculated). You can opt only 1 option for a single contract of course.
20 April 2013
as Mr. vipin said these are not the schemes. the earlier composition schemes are now no more available. only this 40 60 70 % taxation is allowed uder rule 2A of STVR. yes you can change to other options, but cenvat credit will be allowed and disallowed accordingly. also the books need to be maintained accordingly.
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