TaxTMI 
TaxTMI 
Sir ,
Pl. briefly guide about new amendment in work contract
Warm Regards
Rajnikant Chauhan
Briefly Giude about new amendment in Works Contract
12 Sep 2014 
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Service tax valuation in works contracts now fixes service-portion for valuation following category merger under amendment.
The amendment to Rule 2A of the Service Tax (Determination of Value) Rules, 2006 merges categories B and C of works contracts into a single category and prescribes the service portion at 70% for valuation, effected by Notification No.11/2014-ST to simplify classification and valuation of the service component. (AI Summary)
The amendment to Rule 2A of the Service Tax (Determination of Value) Rules, 2006 merges categories B and C of works contracts into a single category and prescribes the service portion at 70% for valuation, effected by Notification No.11/2014-ST to simplify classification and valuation of the service component. (AI Summary)