M/S WK, a Works Contractor has executed a works contract. The details are given
below :
Particulars
Gross amount charged for the works contract – 8,00,000
Value of goods transferred during execution of works contract – 3,00,000
VAT on above goods – 40,000
Compute the service tax payable, if any
(i) Assuming that he has not opted for the composition scheme.
(ii) Assuming that he has opted for the composition scheme.
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