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Service Tax on entire Works Contract Value permissible

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ST Alert - CESTAT:- Service Tax on entire Works Contract Value Permissible: Reduced rate not Mandatory

CESTAT allows full service tax discharge alongwith inputs tax credit for works contract services; Rejects Revenue's stand that assessee does not have option to pay tax at regular rate but had to pay at reduced rate under valuation or works contract rules, with restriction on input tax credit; Rule 2A of Valuation Rules applicable only where value of services cannot be determined as per Sec 67 of Finance Act; Moreover, Rule 3 of Composition Scheme merely provides an option and where such option not exercised, assessee has to discharge service tax liability at full rate; If Rule 3(1) of Composition Scheme is to be considered as having overriding effect over Sec 67, then an incongruous result will follow, since statutory provisions will be rendered nugatory and otiose  : Ahmedabad Tribunal

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Guest Wednesday, 18 September 2019

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