Originally posted by : Akshay Garg |
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would demarcation of differnt values of service and goods make a change in the nature of the contract |
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As per Clause 54 of Section 65B of the Finance Act, Works Contract means a contract wherein transfer of property in goods involved (in the execution of such contract) is leviable to tax as sale of goods & such contract is for the purpose of carrying out construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation, alteration of any movable or immovable property.
So, demarcation of different values of goods & service wont change the nature of contract.