https://www.taxtmi.com/forum/issue?id=4956 Whether and how service tax and OVAT apply to a civil works invoice depends on allocation between labour/service and material components and valuation rules: VAT applies to the material component subject to standard deductions for labour, while service tax applies to the service portion either by deducting value of goods from gross contract price or by applying prescribed valuation methods for works contracts; input credit is available for input services and capital goods but not for inputs whose value is excluded from service valuation. en-us Mon, 19 Nov 2012 17:11:54 +0530 Thu, 23 Jan 2025 15:57:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=4956 Whether and how service tax and OVAT apply to a civil works invoice depends on allocation between labour/service and material components and valuation rules: VAT applies to the material component subject to standard deductions for labour, while service tax applies to the service portion either by deducting value of goods from gross contract price or by applying prescribed valuation methods for works contracts; input credit is available for input services and capital goods but not for inputs whose value is excluded from service valuation. Discussion-Forum Service Tax Mon, 19 Nov 2012 17:11:54 +0530 https://www.taxtmi.com/forum/issue?id=4956