i am a job work contractor please tell me which amount of job work is exempted from service tax
1 Replies
Manoj Agarwal
(Service Tax Consultant Rourkela ServiceTaxExpert@yahoo.com)
(3456 Points)
Replied 14 January 2013
Please specify the exact nature of job work performed by you and your status.
In simple words, if you are a proprietor or partnership firm and you are giving your job work services to any body corporate (say any Pvt. Ltd. or Ltd. company), then you have to pay only 50% tax and balance 50% is required to be paid by the service receipient i.e. the company. If your taxable services were less than Rs. 10 Lacs in the preceding financial year, you need not pay service tax upto Rs. 10 Lacs this year.
For valuation purpose, depending on nature of job work, you can take benefit of paying service tax on service portion 40%/60%/70%.
Regards
tax2001-it @ yahoo.com
Recent Topics
- GSTR2B -BOOK/ RETURN ADJUSTMENT
- Https://www.facebook.com/harmonyblisscbdgummies/
- Camcel gst registration how it possible
- TDS form 26B
- Correction of AD Code in BOE Filed for High Seas P
- Bill to Ship to Model (head office and branch)
- SAC Code for Restaurant, and services in Hotels
- New GST Registration Applied
- TDS on GST On Purchase of Metal Scrap
- Comparison of TDS/TCS data with relevant turnover
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
