Dear All,
I have querries regarding WCT.
I want to know the due date for filing WCT return to the department. And also when the payment of WCT is to be made to the department.
Secondly i would like to know about the new service of WORKS CONTRACT which is introduced from 1st June 2007,
- What is the difference between WORKS CONTRACT service and Errection Commissioning & Installation service & Construction Service.
- As per the composition scheme will the contractor have to intimate to the department for each contract under composition scheme or can he give a declaration for the same.
- According to me composition scheme is beneficial as less service tax will hav to be paid.It is only when service element in the gross amount charged is lee than 16.67 % then only we will have to pay more service tax in composition scheme as compared to service tax paid on only service element of the contract. so what steps should be taken? We are manufacturing company.
- Can the service receiver i.e our company avail the benefit of Cenvat credit for the amount of Service tax paid as per composition scheme because restriction to avail credit is on the service provider & not the service receiver.
With regards,
Shubhangi
CAclubindia
