Budget 2011 - Service Tax - Amendments to Works Contract (Composition Scheme for Payment of Service Tax) Rules, 2007

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..... Budget 2011 - Service Tax - Amendments to Works Contract (Composition Scheme for Payment of Service Tax) Rules, 2007
News and Press Release
Dated:- 28-2-2011

10.1 A new sub-rule (2A) is .....

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..... being added in rule 3 in the Works Contract (Composition Scheme for Payment of Service Tax) Rules, 2007 vide Notification 1/2011-ST so as to restrict the Cenvat credit to 40% of the tax paid on servic .....

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..... es relating to erection, commissioning & installation; commercial or industrial construction and construction of residential complex, in case tax has been paid on full value of the service after avail .....

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..... ing Cenvat credit on inputs i.e. without availing exemption notification 1/2006-ST dated 01.03.2006. This has been done to ensure that the credit on inputs is not availed of indirectly while availing .....

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..... of the composition scheme.
News - Press release - PIB .....

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