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    <title>Works contract</title>
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    <description>Works contract service is taxable where a contract involves transfer of property in goods leviable as sale and relates to activities such as erection, installation, construction, finishing, repair, renovation or turnkey/EPC projects, excluding certain infrastructure works. The provider is liable to pay service tax. Administrative guidance excludes the value of goods taxed under VAT/sales tax from service tax valuation, disallows CENVAT credit for excise on such goods, restricts CENVAT where composition is elected, and bars retrospective reclassification of pre existing composite contracts to claim the composition scheme.</description>
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    <pubDate>Sat, 19 Jan 2008 23:16:00 +0530</pubDate>
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      <description>Works contract service is taxable where a contract involves transfer of property in goods leviable as sale and relates to activities such as erection, installation, construction, finishing, repair, renovation or turnkey/EPC projects, excluding certain infrastructure works. The provider is liable to pay service tax. Administrative guidance excludes the value of goods taxed under VAT/sales tax from service tax valuation, disallows CENVAT credit for excise on such goods, restricts CENVAT where composition is elected, and bars retrospective reclassification of pre existing composite contracts to claim the composition scheme.</description>
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