Calculation in WCT

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....alculation in WCT<br> Query (Issue) Started By: - madhavvan Dated:- 18-4-2009 Last Reply Date:- 20-4-2009 Service Tax<br>Got 2 Replies<br>Service Tax<br>under works contract tax in service tax how the....

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.... service tax to be charged is this right Contract value Rs. 100 Less VAlue of property transferred Rs. 40 Less VAT Rs. 5 Net value for WCT ST Rs 55 Service tax @10 % on Rs. 55 ie Rs. 5.5 pls confirm ....

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....Reply By Madhukar N Hiregange: The Reply: AS I understand the contract value is all inclusive Rs100. Deduction for materials Rs. 40 + 5 for VAT is admissible under Not.12/2003 as well as under the WC....

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.... Valuation. If so 55 includes ST of 10.3 %. Therefore divide 55 by 110.30 and multiply by 10.3% for the result. Another option is to opt for composition and pay 4.12% In both the options the credit on....

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.... capital goods used for provding the service and the input services credit wouldbe available. Reply By madhavvan: The Reply: what about service tax credit on inputs is its available under both option....

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