abaitment under service tax on work contract, Service Tax

[RAM AVTAR]

whether notification no 1/2006 regarding abaitment 67% of material is available under work contract scheme if non composition scheme availed and material amount can not be specified.  if yes under which rule

Posts / Replies

[Sandeep Aggarwal]

The assessee can avail the abatement under Nofn.1/2006-ST if he doesn't opt for Compostion Scheme uner NN 32/2007.

It is to be noted that CS is not an alternative tax but an alternative method to compute tax laibility.

[raj kumar shukla]

In fact the abatement of 67% can be better termed as presumptive as where it is not possible to ascertain the value of material , recourse is taken to this notification. otherwise notification 12/2003-ST  is also available,subject to cetain conditions stipulated therein