Service Tax & VAT on EPC contract

Vijay D (Finance Executive) (227 Points)

01 September 2009  

Hello Freinds,

I have some confusion with Service Tax & VAT Composition scheme. Can any one help me ....

Suppose in a EPC contract main contractor has decided to opt composition scheme for VAT & Service Tax .... What will be the rate of VAT & Service Tax?? As far as I came to know it is 5% VAT on total caontract value & 10.30% Service Tax on 33.33% of Contract value.

Please make me confirm with these rates or kindly let me informed about the correct rates.

Thanks in Advance