Service tax works contract abatement notification number
Service Tax – Works Contract is one of the outcomes of this initiative. into the service tax net.The large number of changes in the law and Abatement Notification : Notification No. 26/2012 Dated 20.06.2012 12. Education Guide : Education Guide issued by CBEC on (a) gross amount charged for the works contract shall not include value added tax or sales tax, as the case may be, paid or payable, if any, on transfer of property in goods involved in the execution of the said works contract; (b) value of works contract service shall include, – (i) labour charges for execution of the works; Service portion in the execution of a work contract is subjected to provisions of partial Reverse Charge Mechanism in case such service has been provided by any individual, HUF or partnership firm, whether registered or not, including association of persons, located in the taxable territory to a business entity registered as body corporate located in taxable territory.