9911796707
TMI BlogValue of free supply to be included in assessment of service taxX X X X Extracts X X X X X X X X Extracts X X X X ..... Value of free supply to be included in assessment of service tax X X X X Extracts X X X X X X X X Extracts X X X X ..... welding rod etc are used by him. now we are paying service tax on 70% of value. My question is ...does the value of material given by us to our services provider will be included in tax compution. regards ram vyas Reply By YAGAY AND SUN: The Reply: In current scenario the law says about fair value but previously there was specifically denial on this matter by the hon'ble High Court. In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... our opinion there is no such requirement to pay service tax on material supplied free of cost. Reply By Ganeshan Kalyani: The Reply: The matter is not yet decided by Apex court. The revenue contest that free issue of material should be added to work out service tax amount based on valuation rule. Whereas assessee's contention is free issue material does not have consideration and thereby doe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s not fulfill the provision under Finance Act and therefore not to include the value of free issue of material. Sri Ramswaroop Ji, now it is upto you to take a stand from above discussion. Thanks. Reply By MARIAPPAN GOVINDARAJAN: The Reply: The value of free supplied material cost is not to be included. Reply By Ganeshan Kalyani: The Reply: Bhayana Builders case is pending in Apex Court in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he matter of free issue of material. X X X X Extracts X X X X X X X X Extracts X X X X
|
