Amruta Pandit (Accounts Executive) (42 Points)
31 March 2015Hi all,
I need help regarding the new notification of service tax 30/2012 dtd 20/06/2012. For the constuction industry i.e. works contract assessee, the service provider needs to bear 50% portion of service tax amount in the bill. Is this applicable for all types of services provided? For example if Mr. V has rented out a property to ABC construction co ltd on which service tax is applicable. Does Mr. V have to bear 50% portion of the Tax liability?
Amruta
Saurabh Maheshwari
(B.com,ACA)
(5923 Points)
Replied 31 March 2015
Your example of Mr. V is a case of Renting of immovable properties and not works contract.
In case of renting of immovable prop., 100% liabity is of s..rovider.
In case of Works contract if s.provider is HUF,individual,firm ,AOP and s.receiver is business entity registered as body corporate , then 50% liab. of bothe s.reciever and peovider under partial RCM.
In any other case,100% liabity of service provider.
CAclubindia
