Simethicone
Understanding the concept of works contract under service tax and its implications on tax liability and compliance for businesses in India.
An informative section offering quick responses to the most frequently posed questions by users or clients.
A works contract under service tax is a contract wherein the sale of goods and the provision of services are combined and cannot be separated. It involves the transfer of property in goods and the rendering of services in relation to the execution of a works contract. This type of contract is subject to service tax
A works contract differs from a regular contract in that it involves both the sale of goods and the provision of services. In a works contract, there is a transfer of property in goods as well as the rendering of services, which makes it a unique type of contract that is subject to service tax. Regular contracts may involve only the sale of goods or only the provision of services
Examples of works contracts that are subject to service tax include contracts for construction, installation, repair, renovation, and maintenance of buildings or structures. Any contract that involves the transfer of property in goods along with the provision of services in relation to the execution of the contract falls under the definition of a works contract and is liable for service tax.
Any time you are dealing with electricity, you need a certified expert. Anything less simply isn't safe.
Any time you are dealing with electricity, you need a certified expert. Anything less simply isn't safe.
Any time you are dealing with electricity, you need a certified expert. Anything less simply isn't safe.
Any time you are dealing with electricity, you need a certified expert. Anything less simply isn't safe.
Any time you are dealing with electricity, you need a certified expert. Anything less simply isn't safe.
Any time you are dealing with electricity, you need a certified expert. Anything less simply isn't safe.
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