Work contract- Treatment of free supply of goods under sales tax and service tax
AGARWAL, SANJAY K
Work contract- Treatment of free supply of goods under sales tax and service tax - 2014 - 96-103
Works contract taxation is considered to involve a lot of complexities and controversies. Unlike other commercial transactions, trancsaction of work contract is of special nature as it attracts two indirect taxes i.e. tax on sale and tax on service, arising out of single commercial activity. The excercise of determination of taxable turnover in case of works contract, whether under VAT/Sales tax law or under service tax law is not a simple excercise but is rather a complicated excercise.
TAXATION
336.2
Work contract- Treatment of free supply of goods under sales tax and service tax - 2014 - 96-103
Works contract taxation is considered to involve a lot of complexities and controversies. Unlike other commercial transactions, trancsaction of work contract is of special nature as it attracts two indirect taxes i.e. tax on sale and tax on service, arising out of single commercial activity. The excercise of determination of taxable turnover in case of works contract, whether under VAT/Sales tax law or under service tax law is not a simple excercise but is rather a complicated excercise.
TAXATION
336.2