Composite Service Tax

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..... 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 1 [four per cent]. of the gross amount charged for the works contract. 2 [ Explanation .-For the purposes of this sub-rule, gross am .....

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..... ecution under the said contract has commenced or where any payment, except by way of credit or debit to any account, has been made in relation to the said contract on or before the 7th day of July, 2009.] (2) The provider of taxable service shall not take CENVAT credit of duties or cess paid on any inputs, used in or in relation to the said works contract, under the provisions of CENVAT Credit .....

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..... where the declared value of the works contract is not less than the gross amount charged for such works contract.] ************ Notes: 1. For the words "two per cent.", the words "four per cent" has been substituted vide notification no. 7/2008 ST dated 1-3-2008 2. Substituted vide notification no. 23/2009 ST dated 7-7-2009 , earlier it was read as: .....

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