Service tax liability on works contract
WebIn many cases, companies are deducting TDS on amount paid to such contract employees either under Section 194J or Section 194H or Section 194D. TDS in such cases is normally being deducted at a flat rate of 10%. Recommended Read: TDS Rate Chart. Such workforce won’t be issued the Form 16 as well because Form 16 is only issued to regular ... Web13 Sep 2024 · Under GST, no abatement has been recommended for works contract service. The previous regime had a 60% reduction for new works contract and a 30% abatement for repair works. Given that the service tax rate was 15% and the GST rate on works contracts is 18%, it is unavoidable that an additional tax burden will be imposed in the GST era.
Service tax liability on works contract
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http://www.casahuja.com/2012/08/service-tax-important-points-for.html Web24 Apr 2016 · Work contract is declared Service:- Section 66E of Finance Act, 1994, provided clarity in respect of few services, which shall be considered as service and hence liable to …
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Web13 Jun 2011 · Liability to pay tax: As per Section 8 (2-A) of Punjab VAT Act every person executing works contract shall pay tax on the value of goods at the time of incorporation …
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