15 May 2009
I would like to put forward my query to the experts here...
Before that a little breif about the nature of work.
We are Iron & Steel Forging firm, where basically Iron Ingots (purchased & provided by the principals) are hammered and given the desired shape on job work/conversion. Here it is to be remembered that we are not adding any material to the product, we are just processing it. And forging is one of the processes in the manufacture of the final output.
My query is whether we are liable or get covered under VAT Act?
CAclubindia
