https://www.taxtmi.com/article/detailed?id=1677 Amendment to Rule 2A provides a lump sum valuation method for works contract service when actual service value cannot be determined: taxable service is assessed as fixed proportions of the total contract amount based on the nature of the work, with a reduced proportion where the gross amount includes land for certain specified services. "Original works" and "total amount" are defined; value of goods supplied free is included using fair market value if not ascertainable. Excise duty on goods transferred in execution of the contract is excluded from CENVAT credit. en-us Mon, 26 Mar 2012 07:20:29 +0530 Mon, 26 Mar 2012 07:20:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1677 Amendment to Rule 2A provides a lump sum valuation method for works contract service when actual service value cannot be determined: taxable service is assessed as fixed proportions of the total contract amount based on the nature of the work, with a reduced proportion where the gross amount includes land for certain specified services. "Original works" and "total amount" are defined; value of goods supplied free is included using fair market value if not ascertainable. Excise duty on goods transferred in execution of the contract is excluded from CENVAT credit. Articles Service Tax Mon, 26 Mar 2012 07:20:29 +0530 https://www.taxtmi.com/article/detailed?id=1677