Mahabaleshwara Rao (director) (197 Points)
30 July 2010THE SERVICE TAX FOR WORKS CONTRACT FOR CONSTRUCTION OF INDUSTRIAL BUILDING UNDER COMOSITION SCHEME WHETHER WE HAVE TO PAY ST ON WHOLE CONTRACT VALUE LESS VAT OR WE CAN DEDUCT MATERIAL USED AS PER NOTIFICATION 29 / 2007/DATED 1.6.07.
WHETHER THE SERVICE RECEIVER CAN TAKE INPUT CREDIT ON OUTPUT COMPOSITION SERVICE TAX PAID AMOUNT.
PL.. URGENT
Raju K. A
(service)
(89 Points)
Replied 30 July 2010
For payment of ST under composition scheme, assessable value shall be the gross value including thre value of materials. The service reciver can take input credit of ST paid on composition scheme
kalyan
(Manager - Accounts)
(99 Points)
Replied 31 July 2010
can u please quote the relevant case or notification.......
Raju K. A
(service)
(89 Points)
Replied 04 August 2010
You may refer Rule 3 of Works Contract (Composition scheme for payment of Service Tax) Rules,2007.
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