Professional Documents
Culture Documents
PgcICAI Service Tax Emerging WC
PgcICAI Service Tax Emerging WC
PgcICAI Service Tax Emerging WC
Emerging issues
Works Contract
Content
Taxability
Works Contract Concept
Taxability
Valuation
Cenvat credit
Issues
Negative list .
Trading of goods
Declared services .
WC - Valuation of Services
1st method
Gross amount charged for execution of contract
WC - Valuation of Services
2nd method - Where the value has not been determined under 1st
Gross amount charged for execution of contract excluding VAT
Place of provision .
General rule location of service receiver
Repairs, re-conditioning of goods location where
services are actually performed
Directly in relation to immovable property (located /
intended to be located ) location of property
Implication on Import / Export of services and
services provided from / received in Jammu &
Kashmir
Point of taxation .
Continuous supply of service
Service portion in execution of works contract
Services to be provided exceeding 3 months
Input services
Contractor all input services including works contract
Customer - Restriction under input service works contract
Threshold exemption
Reverse charge
Emerging issues
From 01/10/2014 Interest rate 18, 24 and 30% p.a. as per delay
6, 12 and beyond 12 months
THANK YOU
bhupendra.agarwal@karvy.com
Mobile: 99597 30001