FIM Value calculating

[Asked by Guest]

Dear Sir,

We awarded a contract to civil party,

We providing Cement, Steel, and Structural steel for construction. can i calculate Structural steel value for service tax calculation (Free issue material).

Currently we are calculating Cement & Steeel value for service tax calculation.

I am confuse, structural steel value calculate or not.

Please advice.

Thanks & Regards,

Sanjay Vasava

AI Summary

Free issue material valuation disputed; include FIM and pay under protest to preserve refund rights pending final resolution.
Whether the value of free issue material supplied by the service recipient must be included in the taxable value of construction services is disputed: tribunal precedent held such materials are not consideration and not includible under Section 67, regulatory valuation rules adopted a fair market value approach, and while litigation proceeds taxpayers are advised to include FIM in taxable value and pay under protest to avoid interest and preserve refund rights.