How to calculate service tax in construction catatory
Answers were Sorted based on User's Feedback
In case of a construction sector the rule for Service Tax
applies as follows:
1) If its a commercial complex - Service Tax is applicable
2) If its a Residential complex - Service Tax will not be
applicable (provided there should not be more than 8 flats)
The calculation should be as follows:
1/3 of the work value alone is taxable @ 12.36 %
If the work value is 12.00 lacs - 4.00 lacs is turnover for
service tax.
Important note: Since 1/3 alone chargeable for tax no input
credit is allowed.
If the major materials viz., steel/cement is supplied by the
client the work value has to be derived after deducting the
above costs
Is This Answer Correct ? | 65 Yes | 24 No |
Answer / maddy
service tax aplicable on comercial construction @ 10.30% on
33% of amount of total construction work
Is This Answer Correct ? | 29 Yes | 5 No |
Answer / shailesh chaure
Service tax is aplicabel only on commercial construction
but the residentel constrction was exempted from 29th
jan.2009 vid circular no.108/02/2009-st issued by central
board of excise and customs. and the Service tax Rate now
is 10.3%
Is This Answer Correct ? | 31 Yes | 9 No |
Answer / johan
service tax is mainly charged by the service provider and
tax will be deposited in treasury or bank.
Is This Answer Correct ? | 20 Yes | 1 No |
Answer / pardeep mittal
service tax is applicable in both conditions
Is This Answer Correct ? | 27 Yes | 9 No |
Answer / vipin gupta
33.33% of Gross Receipt .i.e taxable turnover
then tax rate are applicable 10.30%
Exemple : receipt 100000
33.33% on receipt 33330
TAX ON TTO @ 10.30% 3433
Is This Answer Correct ? | 11 Yes | 2 No |
Answer / harjeet singh
33% of Gross Receipt .i.e taxable turnover
then tax rate are applicable 10.30%
Exemple : Gross receipt 100000
33% on receipt 33000
Service Tax @ 10.30% 3399
Is This Answer Correct ? | 7 Yes | 1 No |
Answer / madan
serive tax is applicable on commercial building @ 10.30% on
the total sale of construction work
Is This Answer Correct ? | 16 Yes | 15 No |
Answer / sanjay mohite
33 % of gross receipt i.e. 100000 including service tax amount
@ 10.30%
33% of Rs.100000/- = 33000/-
but this 33000/- include service tax
= how we calculate actual service tax pl .tell me formula
Is This Answer Correct ? | 2 Yes | 1 No |
FBT % on Tour & Travelling Exps?
1· What is a bad credit score? 2· What does my credit score mean? 3· Can I check my Vantage credit score range online? 4· Should I have perfect credit score, that is, above 800 credit score? 5· With a 600 credit score, how to improve my credit rating score? 6· How to raise my credit score if I have 500 credit score? 7· How to increase your credit rating score quickly? 8· How can I find out my credit rating score for free? 9· Home Equity Loans ????????· 10. Calculate Mortgage 11· Mortgage Payment 12· Mortgage Payment Problems
when we buy an assets a vat has been charged, under which head we show this entry according Haryana sales tax act?
I have appered for the interview of IOCL on 09/08/2008 for the post of Accouts Officer can any one tell me when the result will be announced.
when cash recd. for services rendered in the past: 1)owner equity increase 2)current assets increase 3)profit increase 4)none of the above
HOW TO CALCULATE INTEREST ON PREVIOUS SELF ASSESSMENT TAX ?
How to determine TDS on Salary ? what are Limit for HRA ,insurance premium , Loan installment, children education fee etc. what type of Deductions for salary. please Explain Full and complete this concept with one example which cover all aspects regarding TDS on Salary.
what is rate of different service tax in haryana
housing loan principal upto 1 lac is exempted from tax is it diffrent from exemption u/s 80c
if we are purchase in 4% vat tax than can we deduct tds
When Selling a goods to a party Excise Duty chargable on VAT or not.
What is Service Tax, what percentage it was deducted in shipping company.