I had register under Works contract in service tax & I had recd recd Rs. 75000 in our bank how much ST I have to Pay in which head & Ed. Cess & Sec Hghr Ed. cess should shown separately or inclusive.
Vishal (A/c) (Accountant) (67 Points)
29 March 2014I had register under Works contract in service tax & I had recd recd Rs. 75000 in our bank how much ST I have to Pay in which head & Ed. Cess & Sec Hghr Ed. cess should shown separately or inclusive.
DINU SUKUMAR
(Audit Manager)
(176 Points)
Replied 31 March 2014
Hii,
In the year of registration you are liable for ST, only if your turnover exceeds Rs. 10 lacs.If you have registered before April, 2013 you are liable to pay ST on this amount.If you are only a labour contractor, supply of man power is not a works contract, hence you are liable to pay ST at 12, Ed Cess at 2% and H cess at 1%. If your turnover includes value of material and labour you are a works contractor. So you are liable to pay ST at 12.36% on 40% of Rs. 75,000/- if there is no reverse charge.
DINU SUKUMAR
(Audit Manager)
(176 Points)
Replied 31 March 2014
Hii
In addition to above if you are not collecting ST seperately you can show the above amount is inclusive of ST.
Master GSTR-9 and 9C with India's First Unique Live Course with Live practical training
CAclubindia
