15 January 2015
What is the tax on furniture works both VAt and service tax?
Some works vat were 8% and some 5%. And vat was calculated on base value plus service tax 12.36% of 70%. How to differenciate between these works?
15 January 2015
In the case of furniture or interior decoration works,in Karnataka,it is 25% labour and 75% of material,i.e.VAT is payable on 75% of contract value. For ST no such specific abatement is given.It is better to take actual expenses and pay 12.36% on it.VAT on material is payable @14.5%.Input credit is available.Similarly for ST also input credit is available......mjk
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