https://www.taxtmi.com/article/detailed?id=1681 Reverse charge shifts partial service tax liability to recipients for specified services; works contract valuation follows a mandatory sequence: total consideration minus property value for VAT, then total minus actual goods value, and only failing those, prescribed abatement percentages apply (40% original works, 60% other contracts, 25% certain pre completion receipts). The sequencing limits abatement to a residual method, creating practical valuation and compliance difficulties for recipients. The proposal permits refunds of unutilized Cenvat for "small providers" but leaves the term and eligibility unclear, complicating refund claims. en-us Tue, 27 Mar 2012 21:56:54 +0530 Tue, 27 Mar 2012 21:56:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1681 Reverse charge shifts partial service tax liability to recipients for specified services; works contract valuation follows a mandatory sequence: total consideration minus property value for VAT, then total minus actual goods value, and only failing those, prescribed abatement percentages apply (40% original works, 60% other contracts, 25% certain pre completion receipts). The sequencing limits abatement to a residual method, creating practical valuation and compliance difficulties for recipients. The proposal permits refunds of unutilized Cenvat for "small providers" but leaves the term and eligibility unclear, complicating refund claims. Articles Service Tax Tue, 27 Mar 2012 21:56:54 +0530 https://www.taxtmi.com/article/detailed?id=1681