Sanket (!..Live to Give..!) (16427 Points)
27 March 2012A person(Say Mayur) have a gold shop for making jewelries. He take gold from party for making jewelries and at the time of payment party deduct tax from that transaction @ 1% as it is contract between party and that person(Mayur). As Gross receipts are already above 10 lakhs.
But my question is that, is this liable for service tax as it is labour contract between two ?
So, anyone tell me that Mayur is liable for pay service tax ?
surender
(Manager Accounts)
(149 Points)
Replied 27 March 2012
Seems you are chargable to pay service tax on labour (work contract). for FY 2012-13 its is 4.8% w.e.f 1st April 2012. see NOTIFICATION NO. 11/2012-ST, DATED 17-3-2012.
TRILOCHAN
(SENIOR ACCOUNTANT)
(698 Points)
Replied 28 March 2012
Dear all ,
Kindly reply me, I am a job worker doing stitching of fabrics for a exporter. My gross receipt is more then 10 lakhs during the financial year. Whether Service Tax is applicable on me ?
Pls reply me urgently....
Regards
TRILOCHAN OJHA
vivekananda reddy
(ca)
(37 Points)
Replied 28 March 2012
yes it is liable to pay the service tax mr.trilochan......if the gross reciepts r exceeded 10lacks such persons shldbe paid the s.t
TRILOCHAN
(SENIOR ACCOUNTANT)
(698 Points)
Replied 28 March 2012
shashank
(asst. auditor)
(56 Points)
Replied 05 April 2012
yes mayur is liable to pay service tax coz his gross receipts is above 10lakhs.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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