The company is into water proofing,treatment of expansion joints and such other works for existing buildings. On what portion of the total value charged would service tax be computed?
Will the rate change if the above works are done for new constructions?
The rate of service tax will not change however the valuation will be changed. For repair & maintenance and servicing the valuation would be done on 70% of gross amount charged and in case of new construction, 40% of the gross amount is to be taken.
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