I am doing painting works of building. Getting amount from customers Rs 20 lakhs pa. Of this I purchase Rs9lakhs painting material(Bill in the name of Customer)i.e.I just purchase material on behalf of customer. On balance Rs11lakhs I get profit of about 2lakhs only. Max transaction are thru bank. Any service tax liability for me? Can I show my profit as commission and brokerage and avoid service tax. If 11 Lakhs is shown as turnover service tax comes and I wont get any work.
1 Replies
Rajesh
(Consultant)
(25 Points)
Replied 14 December 2013
Hi
According to me this services comes under works contract. And under this u are liable to pay 50% of service tax and balance 50% will be borne by customers under reverse charge mechanism. You can't avoid service tax.
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