The Institute of Business Laws, in association with Lakshmikumaran & Sridharan, is organizing a seminar on ‘New Service Tax Regime – Works Contracts, EPC Contracts & Construction Contracts’ on 23rd August, 2012 in Chennai.
This seminar is intended to guide service providers, works contractors, EPC contractors, manufacturers engaging contractors and entities involved in infrastructure, construction and other projects on implications of new Service Tax regime on works contracts, EPC contracts, turnkey projects and construction contracts. This new regime has provided for:
- New Rule 2A in Valuation Rules for works contracts
- Merging Composition Rules with Valuation Rules
- New composition rates bringing new concepts like original works
- Introduction of concept of fair market value to determine total amount charged
- Service Tax on residential construction without any threshold limit
- New reverse charge mechanism casting liability on both service provider and service recipient of works contract service & attendant valuation issues
In this seminar, experts from Lakshmikumaran & Sridharan will explain and discuss the significant changes brought by the New Service Tax Regime. For more information visit www.iblglobal.com.