Hi All,
With regard to the recent amendment in Service tax, require clarification on the following with regard to Works contract - original works;
i) has the composition scheme been scrapped wef 1 July 2012? i.e. the option to pay service tax on 40% of the invoice amount? (the materials are all misleading)
ii) with the reverse charge mechanism in place, is the 50% borne by the service recevier to be paid of his/her pocket or is that 50 % to be withheld from the service providers liability and paid on his behalf by the service receiver?
Thanks.
- Mike