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Amends works contract (Composition Scheme for Payment of Service Tax) Rules, 2007 – composition rate increased to 4.8% from 4%

Works Contract (Composition Scheme for Payment of Service Tax) Amendment Rules, 2012 – Amendment in rule 3

Rule 3(1) of the Works Contract (Composition Scheme for Payment of Service Tax) Rules, 2007 have been amended to increase the rate of service tax to be paid under optional composition scheme from 4% to 4.8% of the gross amount charged for the works contract.

Notification No. 10/2012 – ST,

dated 17-3-2012

In exercise of the powers conferred by sections 93 and 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Works Contract (Composition Scheme for Payment of Service Tax) Rules, 2007, namely:-

1. (1) These rules may be called the Works Contract (Composition Scheme for Payment of Service Tax) Amendment Rules, 2012.

(2) They shall come into force on the 1st day of April, 2012.

2. In the Works Contract (Composition Scheme for Payment of Service Tax) Amendment Rules, 2007, in rule 3, in sub-rule (1), for the words “four per cent”, the figures and words “4.8 per cent” shall be substituted.

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0 Comments

  1. A.Sathibabu says:

    Sir,
    we are in composit scheme under 4.8% of service tax we both service provider and service recipient. shall we take credit and utilized from service provider bills

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