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Works contract

One firm is engaged in trading of goods ie Sales Tax is applicable and the firm takes the services for the construction of building. In that case the contractor charges service tax @ 15% in respect of their obligation . What will be the status of the other 50% liability and if we have to pay service tax , number should be applied under  works contract/ other  services ???  



By: ASHISH

As Per Notification 30/2012 issued under Service Tax, Partial Reverse Charge is applicable in case of Work Contract Service when:-

(a) Service is provided by (Service Provider):- HUF, Individual, Partnership Firm, AOP

(b) Service is received by (Service Receiver):- Business Entity registered as Body Corporate Loacted in Taxable Territory.

If above two Condition is satisfied then only Parital Reverse Charge is Applicable.

Work Contract:- (Material + Labour) is provided by Contractor and Segregation of these Exp is not given in invoice then it becomes Work Contract.

Conclusion: In your case you are the service receiver and status is FIRM, then you are not required to pay 50% Liability of service tax, and Contractor is Correct to charge 15% service Tax on their Invoice.

 



By: PARVEEN BANSAL



347559
 
20
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20 Apr

☑ Monthly | GSTR-3B

GSTR-3B for the m/o Mar 2024 (Monthly Taxpayer - Rule 61) - Either Compulsory taxpayer > 5 cr. or Voluntary taxpayer < 5 cr.

☑ Monthly | GSTR-5A

GSTR-5A for the m/o Mar 2024 [Return by OIDAR Service Providers - Rule 64.]

22 Apr

☑ Quarterly | GSTR-3B

GSTR-3B for the Quarter Jan - Mar 2024 (QRMP Taxpayer < 5 Cr - Rule 61) - Category I States.

* State Category I - Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep.

24 Apr

☑ Quarterly | GSTR-3B

GSTR-3B for the Quarter Jan - Mar 2024 (QRMP Taxpayers < 5 Cr - Rule 61) - Category II States.

* State Category II - Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha or the Union territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi.

25 Apr

☑ Half-Yearly | ITC-04

ITC-04 for the half year (Oct - Mar 2024) (For taxpayers > 5 Cr. Turnover) - Rule 45.

☑ Annual | ITC-04

ITC-04 for the FY 2023-24 (For taxpayers upto 5 Cr. Turnover) - Rule 45.

28 Apr

☑ Monthly | GSTR-11

GSTR-11 for the m/o Mar 2024 (Statement of inward supplies by persons having Unique Identification Number (UIN)).

30 Apr

☑ Annual | GSTR-4

GSTR-4 (Annual Return) for FY 2023-24 by Composite Taxpayer (Rule 62).

☑ Quarterly | QRMP

Last date for opt-in / opt-out QRMP Scheme for quarter Apr - June 2024 (Rule 61A)