I recently bought a independent house. The total cost of the project is 50Lacs, and the breakup is as follows:

Plot Value=9,33,000

Cost of construction=40,67,000 (Gross Value)

The builder is charging me Service Tax @ 4.12% on (40,67,000)=1,67,560/- (Compounded Rate). Why cant he charge at Normal Rate i.e. @ 12.36% on (33%*4067000)=12.36%(1342110)=1,65,884/-. The difference between Normal Rate and Compounded Rate being 1,676/-. Not that its a huge amount, but for my clarification. Would someone shed some light on this ?

Coming to the Main point, the builder is charging me VAT on (GrossValue+ST) as follows:

4%(4067000+167560)=4%(4234560)=1,69,382/-

Is the above calculation correct??? I was under the impression that VAT @ 4% is calculated on Gross Value only, but the builder is including the ST component in this calculation.

So which calculation is right? VAT@4%(GrossValue) or VAT@4%(GrossValue+ST)?

The difference between 4%(GrossValue) and 4%(Grossvalue+ST) is working out to Rs.6702/-. Hence I need the clarification. So can anyone enlighten me on this issue??

Thanks.

Kindly furnish me the rate of VAT on spare parts of Diesel Generator sets (i.e spare parts of engine & alternator)in Gujarat state. Also, provide me the Schedule & Sr.No. defining the rate of tax. Thks & Rgds.

Hi,
we have to send materials from chenani to Gurgaon to a customer who is in SEZ and he had submitted the form to us.
Actually we are sending the materials thro our Supplier to the customer directly.
In form 38 whether we have to fill our name or the supplier name who is sending the materials on behalf of us.
Also confirm whether the materials can be sent thro Delivery challan or invoice is compulsory.
Pl advise.

Please tell me VAT on Fixed Assets my Register on work Contractors ,
fixed assets for business not for sale

If there is no any specific provision of issuing assessment order, whether the department can issue demand note, without issuing assessment order? Whether the department can take this ground that the dealer, if required, may get certified copy of the Assessment Order ny paying a requisite fee?

Dear all,

one of my client is registered under MVAT and having the business of supplying surrvey instruments & civil engineering material, recently he has supplied survey instruments to Maharashtra State Govertnment(PWD)and has rasied the bill with vat @ 12.50% the office while paying him has deducted VAT @ 4%, TDS @ 5.25%, service Tax @ 12.36% and has paid the bill,

i.e. suppose the bill amount is Rs 1,000/- they have deducted Rs 40 as vat, Rs 52.50 as tds, & 123.60 as service tax.

now my query is under which section they have deducted this tax? can they deducted it? can we claim the VAT amount while filling the half yearly VAT return & under which section ?

yes we can claim the TDS amount while filling the ITR, and he is not registered under service tax so that amount cannot be claimed.


Please Guide me
hoping for a positve response form all


Thanks

Atul N.S.

Is Vat audit compulsory in case of Karnataka, Andhra Pradesh & MP.
IF so what is the due date?

Dear Sir,

What is the % of disallowance on office equipement & furniture . I think It is 4% & remaining is allowable for Set off.
is it right?

Doubts in VAT returns – we are submitting VAT 200 every next month 15th day, for July 31 we raised 5 invoice but one is approved in time (August before 15th ) reaming invoice are approved after the submission of VAT 200 monthly returns – How can I show that balance invoice in VAT returns? (Should I submit revised VAT returns for July or shall I take that balance 4 invoice in this month VAT Returns August month. (Our sales are completely exempted sales so we are not paying sales tax) Please suggest.

We are giving construciton equipment on rent to any person without transferring right of possession and effective control of such machinery with in India . The machinery operation and maintainence is with us i.e our operator's do the work as per the requirement of the client.

Please advise the applicability of the VAT on the said transactions across India.


Further can we take the MODVAT credit on equipment purchased and use the said credit against the Service Tax Liability
thanks
ravi bhatnagar