Inclusion of value of material supplied to the contractor in value of taxable service

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..... Inclusion of value of material supplied to the contractor in value of taxable service
Query (Issue) Started By: - felix ka Dated:- 2-3-2010 Last Reply Date:- 8-3-2010 Service Tax
Got 4 Replies< .....

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..... br>Service Tax
whether value of material supplied to the contractor during a construction contract is to be included in the value of taxable service? Reply By Gopalarathnam Muralidharan: The Reply: .....

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..... Value of free supply of materials are to be included in the value of taxable services Reply By Rama Krishana: The Reply: There are various options available if your product is falling within the cate .....

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..... gory of Works Contract (i) to avail the benefit of composition scheme, (ii) to opt for regular valuation scheme. If u opt for composition scheme you need to pay 4% on the total value of contract inclu .....

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..... ding the value / cost of the material used into such project. In case u opt for regular valuation method, you can exclude the value of material and goods supplied / used in execution of such contract. .....

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..... Therefore, option is with you which method to be followed. Reply By THIRUGNANAM KALIYAPERUMAL: The Reply: yes, there is a department notification for that also. Reply By felix ka: The Reply: Thanks .....

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..... for the responses. The issue pertains to a period prior to 2007.
Discussion Forum - Knowledge Sharing .....

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