For works contract (Original works), shall we pay the service tax on the value of work reduced by the good value stated in the vat return
Any one please reply me soon
1 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178099 Points)
Replied 30 November 2016
Service tax for works contract, for original works, is calculated on 40% ot total value. Effective rate comes to 6% of total value of the bill (with material).
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