As per notification no. 15/2004 related to service provided by a commercial concern, in relation to commercial or industrial construction service an abatement of 67% has been provided in case of composite contracts where the gross amount charged includes the value of material cost.
In a composite contract cement and steel are being provided by a person to service provider. Is such contract is elegible for the abatement of 67% ?
2 Replies
Vk Duggal
(320 Points)
Replied 10 May 2007
If the value of the steel & cement provided by the party is deducted from the contract value awarded to contractor, then it will be applicable.
Mr Narendra
(22 Points)
Replied 10 May 2007
Dear Rk As per notification no 1/2006 dated1-3-2006 srno 7(zzq) you are not able to take any kind of abitment which means you have to pay service tax @ 12% full on invoice value which even include material value
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