SERVICE TAX ON WORKS CONTRACT SERVICE PRIOR TO GST
Effective from 01.07.2012, vide Notification No. 30/2012 Dated
20.06.2012, under Reverse Charge Mechanism, the share liability of any of the
Company, Firm, individual, Government Authority, Local State Authority etc is
given below.
|
Category of Service Provider
|
Category of Service Receiver
|
ST payable by Provider
|
ST payable by Receiver
|
|
Individual, Proprietary firm, Partnership firm including Limited
Liability Partnership
|
Company
|
50%
|
50%
|
|
Other than Company
|
100%
|
0%
|
|
|
Government or Local Authority
|
Any Person or status
|
0%
|
100%
|
|
Company
|
Any person, firm etc
|
100%
|
0%
|
RATE OF ABATEMENT ON WORKS CONTRACT
SERVICE:
Effective From 1.7.2012, vide Notification No. 24/2012 Dated 6.6.2012,
provided Rule 2A of Service Tax Determination of Value Rule, 2006, subject to
the provision of the section 67, the value of service portion in the execution
of Works Contract , referred to in clause (h) of section 66E, the abatement and
rate of ST applicability is given below.
|
Sl.No.
|
In case of works contracts entered into
|
Applicable % on which ST is payable
|
|
1
|
For Execution of Original Works/Fresh Construction
|
On 40% (after abatement of 60% of the total Bill Value)
|
|
2
|
For maintenance or repair or reconditioning or restoration or servicing
of any goods
|
On 70% (after abatement of 30% of the total Bill Value)
|
|
3
|
For any other purpose not covered in the above two cases, including
maintenance, repair, completion and finishing services such as glazing,
plastering, floor and wall tiling, installation of electrical fittings of an
immovable property.
|
On 60% (after abatement of 40% of the total Bill Value)
|
And with effect from 1.10.2014, vide Notification No. 11/2014 Dated
11.07.2014, the followings changes have been made.
|
Sl.No.
|
In case of works contracts entered into
|
Applicable % on which ST is payable
|
|
1
|
For Execution of Original Works/Fresh Construction
|
On 40% (after abatement of 60% of the total Bill Value)
|
|
2
|
For maintenance or repair or reconditioning or restoration or servicing
of any goods, For any other purpose not covered in the above two cases,
including maintenance, repair, completion and finishing services such as
glazing, plastering, floor and wall tiling, installation of electrical
fittings of an immovable property.
|
On 70% (after abatement of 30% of the total Bill Value)
|
Related Topic : GST ON WORKS CONTRACT SERVICE
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