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of <h1>Simplified Tax Payment for Works Contracts: Pay 2% of Gross Charge, No CENVAT Credit Allowed (2007-2012)</h1> The Works Contract (Composition Scheme for Payment of Service Tax) Rules, 2007, established by the Government of India, allows service providers involved in works contracts to opt for a simplified service tax payment method. Effective from June 1, 2007, these rules permit service providers to discharge their service tax liability by paying 2% of the gross amount charged for the works contract, excluding VAT or sales tax. Providers choosing this option cannot claim CENVAT credit on inputs used in the contract. The option must be exercised before tax payment and remains applicable throughout the contract's duration. These rules were rescinded in 2012.
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