Dinesh Raj (Director) (28 Points)
28 March 2009Hello,
What are the taxes when we supply precast building components as a contractor and what will it be if we are supplying the same as sub -contractor to the main building contractor.
According to indian tax laws, what will be the usal tax for production and supply of precast building components in Andhra Pradesh and for interstate supply.
Dinesh
Ramakrishna
(Financial Executive)
(438 Points)
Replied 31 March 2009
Dear Dinesh Raj!
Supply of precast building components designed to measurements is a job contract which attract TDS u/s. 194C at the rate 2% with applicable surcharge and cess.
If the same is done by a person a sub contractor to a main contractor, then TDS is applicable at the rate 1% with surcharge and cess applicable.
Levy of Sales tax varies between different States.
Good Bye! Cheers!!
CAclubindia
