ABATEMENT ON WORK CONTRACT

[CS RAHUL AGARWAL]

Respected Sir,

Is there abatement in respect of WCT Services ?? I mean whether the abatement of 75% OR 70% (as the case may be) in Sl. No. 12 of NN. 26/2012 would be available to work contractor engage in construction of building /complex under composite contract ?

AI Summary

Clarification on Abatement Percentages Under Notification 26/2012 and 09/2013 for Construction Work Contracts A discussion on a forum involves a query about the applicability of abatement percentages (75% or 70%) under Notification No. 26/2012, as amended by Notification No. 09/2013, for work contracts in construction. A participant seeks clarity on whether these abatements apply to composite contracts involving construction of buildings or complexes. Another participant clarifies that the abatement can be claimed if the contract includes land value, with taxable value being 40% when only construction is involved. The original inquirer expresses gratitude for the clarification provided.