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<h1>Determination of Service Value prescribes valuation rules for works contracts and catering services, fixing apportionment and exclusions.</h1> The value of the service portion in execution of a works contract is the gross amount charged for the works contract less the value of property in goods transferred, excluding VAT or sales tax on such goods; includible service components are labour, sub-contractor payments, design fees, hired machinery, consumables, contractor establishment and attributable profit. Where VAT/sales tax has been paid on the actual value of goods, that value is to be used; where value cannot be determined, prescribed presumptive apportionments apply. CENVAT credit restrictions and related definitions are specified.
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