% of Service Tax on Works Contract?

vsns sharma (JOB) (100 Points)

19 October 2008  

We got civil contract for Rs.623 Lakhs in MP. My boss asked me the impact of VAT /WCT/Service Tax & How can We benefit from this? I arraived material cost of 127lakhs, Direct Cost-272lakhs & Overheads-156Lakhs. I Calculated Input VAT & Output Vat.Here I am unable to know WCT & Service Tax % & value. Moreover my client deducting wct-2% in the payment. Is it elegible for Input tax.

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I prepared VAT calculation in Simple Scheme. I struck at the following points.

[A] The claint deducted 2% WCT from the payment. How to take this as Input.?

[B] In simple scheme, how much the % of Service Tax on service value?

[C] In Composit Scheme, how much the % of Service Tax  & VAT tax?

 

 

Plz help me how to go about?

 

VSNS SHARMA