10 January 2016
You have to charge 70% Vat and 40% Service tax. under WCT under Vat Scheme.
If you opted composition tax than you have to pay 4% WCT tax on entire bill amount .under WCT you can't issue C form if you cannot purchase material Interstate Against C-form
Service tax can be charged under WCT you can pay 5.8 % on entire bill amount.
11 January 2016
Thanks for reply. Please one more thing clear me if we go under WCT Composition schemet then we have to charge both VAT and Service Tax too.
and if company received the advance amount before starting the construction work, then it will be covered under construction service then there 75% and 70% abatement available under service tax. then in that case also company is bound to pay VAT ? if yes then same rate applicable as you said above?
11 January 2016
UNDER WCT ABATEMENT WILL BE ON 40% OF CONTRACT VALUE ST 14.50% YOU CAN OPT ABATEMENT 50% IF YOU ARE (STATUS)OTHER THAN COMPANY DOING WCT TO COMPANY VICE VERSA WILL APPLY.