27 April 2016
Dear sir, can any one clarify my doubt.
My doubt, we the contractee party supply goods worth (cement and steel) of Rs 10000/- to the contractors registered VAT dealer with VAT250 form we pay Rs 50000/- for works contract under composition scheme, contractor uses the material supplied by us in executing the works contract, now my doubt is that how to compute 5% VAT, whether to include the value of Rs 10000 (supplied free of cost, cement and steel) while arriving 5% VAT under WCT OR NOT.
Give reply with calculations.
And this is for maintenance and repairs, service tax under RCM is also applicable, so kindly calculate both VAT portion and Service Tax Portion.
CAclubindia
