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Briefly Giude about new amendment in Works Contract

RAJNIKANT CHAUHAN

Sir ,

Pl. briefly guide about new amendment in work contract

Warm Regards

Rajnikant Chauhan

Amendment Merges Works Contracts Categories, Sets Service Portion at 70% Under Rule 2A of Service Tax Rules 2006 A query was raised regarding the new amendment in works contracts related to service tax. The response explained that Rule 2A of the Service Tax (Determination of Value) Rules, 2006, has been amended to merge categories 'B' and 'C' of works contracts into a single category. The service portion is set at 70%, effective from October 1, 2014. This change aims to simplify classification and reduce disputes. The information was provided by a management and indirect tax consultancy. (AI Summary)
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