26 January 2011
A construction company purchase a product on C form for Rs. 100000/- and sales in its state (on which 5% VAT apply) for Rs. 200000/- (in sales Amt.Rs. 40000/- is expense as transporting by company vehicle to sales location. now I want to know do that co. can raised two different invoice 1) Rs. 160000 for product (on which no ITC and Rs. 8000/- would be payable 2) Rs. 40,000/- transporting charges by co. vehicle count as service (service tax relates)
CAclubindia
