https://www.taxtmi.com/notifications?id=24916 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. en-us Wed, 06 Jun 2012 00:00:00 +0530 Thu, 07 Jun 2012 18:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=24916 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. Notifications Service Tax Wed, 06 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/notifications?id=24916