https://www.taxtmi.com/forum/issue?id=457 Contractors can opt into the works contract service regime by registering for the relevant taxable service and pay service tax either on net service revenue (gross contract value less goods transferred) with full Cenvat credit of inputs, input services and capital goods, or on a presumptive gross basis with credit limited to input services and capital goods; VAT paid on the contract value should be deducted where applicable, and past-period protection exists under prior judicial rulings though legislative change affects future levy. en-us Mon, 28 May 2007 10:52:41 +0530 Thu, 23 Jan 2025 15:58:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=457 Contractors can opt into the works contract service regime by registering for the relevant taxable service and pay service tax either on net service revenue (gross contract value less goods transferred) with full Cenvat credit of inputs, input services and capital goods, or on a presumptive gross basis with credit limited to input services and capital goods; VAT paid on the contract value should be deducted where applicable, and past-period protection exists under prior judicial rulings though legislative change affects future levy. Discussion-Forum Service Tax Mon, 28 May 2007 10:52:41 +0530 https://www.taxtmi.com/forum/issue?id=457