AAR: Supplies/Material received from contractee includible in taxable value of works-contract

Maharashtra AAR clarifies that tax is payable on the entire contract value without deduction of value of the material provided by the contractee in a works contract for constructing building; Observes that the consideration for the said contract, being Rs. 600 lakhs (material and labour included), is subject to the execution and completion of the work as per the drawings, specifications and priced schedule of quantities and that the material viz. cement, mild steel, tor steel...