vat on installation contracts
This query is : Resolved
08 February 2010
I have a firm , which is dealing in erection ,commissining and installation works. i want to know that at which % of total contract vat is applicable ?
08 February 2010
As the basic principle, VAT is charged on the value of material, which may vary from contract to contract. Generally, a contractor should be able to determine the amount of material used in each contract and pay tax accordingly. However, quite often, contractors are not able to determine the value of material in individual contract. In order to facilitate computation of tax, VAT laws of various States provide for an adhoc deduction towards labour and other services. This rate of this deduction vary from State to State and also vary from contract to contract.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- COP Surrender 2024
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
