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Works Contract Service Notifications at Glance:
S. No. |
Notification No. |
Particulars |
Effective from |
EffectiveTill |
Amended by Notification No. |
1 |
12/200320/06/2003 |
This notification provide exemption from service tax on equal value of goods and material transferred to recipient (restriction from cenvat and duty credit paid on such goods) |
01/07/2014 |
30/06/2012 |
35/2012 |
2 |
15/200410/09/2004 |
It exempts the taxable service provided by a commercial concern to any person, in relation to construction service, from so much of the service tax leviable thereon under section 66 of the said Act, as is in excess of the service tax calculated on a value which is equivalent to thirty-three per cent. of the gross amount charged from any person by such commercial concern for providing the said taxable service |
10/09/2004 |
09/09/2004 |
1/2006 |
3 |
18/200507/06/2005 |
It covers construction of complex, service tax service tax leviable thereon under section 66 of the said Finance Act, as is in excess of the service tax calculated on a value which is equivalent to thirty-three per cent. of the gross amount charged from any person by such service provider for providing the said taxable service: |
09/09/2004 |
28/02/2006 |
1/2006 |
4 |
01/200601/03/2006 |
It covers notification 15/2004 and 18/2005 with 67% abatment along with restriction on cenvat credit on services, inputs ,capital goods non availment condition |
01/03/2006 |
22/05/2007 |
32/2007 |
5 |
32/200722/05/2207 |
works contract service” means services provided in relation to the execution of a works contract referred to in sub-clause (zzzza) of clause (105) of section 65 of the Act; rate |
01/06/2007 |
28/02/2008 |
07/2008 |
6 |
07/200801/03/2008 |
Rate change from2% to 4% of the total value of the works contract. Rule 3(1) of the said rules is being amended |
01/03/2008 |
||
7 |
10/201217/03/2012 |
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 percent., the figures and words ―4.8 per cent., shall be substituted |
01/04/2012 |
||
8 |
24/201220/06/2012 |
There are two option available for valuation of service under rule 2 (A)(1) On actual service value(2)(a) if original works then 40% value is taxable(b)if reconditioning, maintenance, or, service work then 70% value is taxable(c)Fishing , plastering and, glazing works then 60% is taxable value |
01/07/2012 |
11/07/2014 |
11/2014 |
9 |
25/201220/06/2012 |
Reverse Charge applicability on WCS services provided by individual/HUF/Firms/AOP to body corporate on 50:50 basis. |
01/07/2012 |
ongoing |
|
10 |
30/201220/06/2012 |
Reverse Charge applicability on WCS services provided by individual/HUF/Firms/AOP to body corporate on 50:50 basis. |
01/07/2012 |
ongoing |
|
11 |
35/201220/06/2012 |
Notification 35/2012 has been rescinded the works contract scheme rules, 2007 under which 67% abetment scheme under works contract has been withdrawn w.e.f 01st July 2012. |
01/07/2012 |
ongoing |
|
12 |
11/201411/07/2014 |
Amend the service tax (determination value) rule 2006 so as to prescribe the percentage or works contract(i)in case of original work taxable value is 40%(ii) other than original works table value is 70% |
01/10/2014 |
ongoing |
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My client is in to providing works contracts services of installation of Lifts and elevators. Since he claims 40% of the gross value to be the assessable value under service tax, they do not claim cenvat credit on inputs. However the department claims that they are liable to reverse the credit on input services upto 60%. which we find is incorrect since notification 24/2012 doesnt provide any such reversal.