Works Contract (Composition Scheme for payment of Service Tax) Rules, 2007

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....OVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 22nd May, 2007 1 Jyaistha, 1929 (Saka) Notification No. 32/2007-Service Tax G.S.R. (E). In exercise of the powers conferred by sections 93 and 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules, namely:- 1. Short title and commencement. (1) These rules may be called ....

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....le to pay service tax in relation to works contract service shall have the option to discharge his service tax liability on the works contract service provided or to be provided, instead of paying service tax at the rate specified in section 66 of the Act, by paying an amount equivalent to two per cent. of the gross amount charged for the works contract. Explanation.- For the purposes of this rul....