26 December 2017
Dear Sir
In case of a civil contrator, what would net tax payable along with form 3B, considering the following facts,
1. Total Payment Rs. 1 lac and tax @I2% Rs. 12000.00
2. In The Same period cement purchae Rs. 50000 and ITC Paid thereon Rs. 14000.
3. Now Contractor should pay Rs 12000 with challan
or
he should adjust it with available ITC?
CAclubindia
