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TMI BlogWorks Contract TaxX X X X Extracts X X X X X X X X Extracts X X X X ..... Works Contract Tax X X X X Extracts X X X X X X X X Extracts X X X X ..... red? Reply By Ganeshan Kalyani: The Reply: SERVICE TAX : If you are a service provider under works contract service, and you are an individual, firm , HUF and the recipient is a body corporate then you have to charge half of service tax @15% on 40% of Value of service in case of original works and on 70% of value of service in case of other than original works. VAT : Regarding material portion ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... involved in the works contract then applicable VAT shall be charged on invoice. VAT- TDS (WCT): the works contract tax is a tax to be deducted by the recipient of service from the payment to be made to contractor . A certificate is then issued by the service recipient to the contractor after making payment of the tax so deducted , based in which the contractor shall tax credit against output VA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T payable. Reply By Ganeshan Kalyani: The Reply: Labour Cess need to be paid by the contractors. If contractor does not pay it then the owner (Service receiver ) shall pay the tax. Reply By Srivatsan Krishnamachari: The Reply: Thanks for replies. This is supply from Telangana to AP. Regards Srinivas Reply By Ganeshan Kalyani: The Reply: In case of interstate works contract service being pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ovided then in my view 'works contract tax ' is not applicable. X X X X Extracts X X X X X X X X Extracts X X X X
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