https://www.taxtmi.com/forum/issue?id=118204 Valuation of works contracts follows actual allocation of sale and service where segregation is available; Rule 2A prefers actual basis and places the burden of proof on the assessee seeking deemed allocation. Proof of tax payment on the sale portion is required to support exemption or concessional treatment. Purchase price in books is not necessarily the value of property in goods transferred, and payment under a VAT composition scheme may affect the department's ability to substitute purchase cost for contract valuation. en-us Mon, 31 Oct 2022 18:10:00 +0530 Thu, 23 Jan 2025 15:54:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118204 Valuation of works contracts follows actual allocation of sale and service where segregation is available; Rule 2A prefers actual basis and places the burden of proof on the assessee seeking deemed allocation. Proof of tax payment on the sale portion is required to support exemption or concessional treatment. Purchase price in books is not necessarily the value of property in goods transferred, and payment under a VAT composition scheme may affect the department's ability to substitute purchase cost for contract valuation. Discussion-Forum Service Tax Mon, 31 Oct 2022 18:10:00 +0530 https://www.taxtmi.com/forum/issue?id=118204