Clarification of 10 lacs limit
This query is : Resolved
08 December 2008
We are turnkey contractor with work contract of Rs. 12.00 lacs. We had received full and final payment. Please clarify the limit of 10 lacs is actually the gross value of total work contract or the labour component calculated as 33% of the work contract.
We are turnkey contractor with work contract of Rs. 12.00 lacs. We had received full and final payment. Please clarify the limit of 10 lacs is actually the gross value of total work contract or the labour component calculated as 33% of the work contract.
08 December 2008
For the purpose of threshold limit of Rs 10 lakhs gross amount billed (not received) should be considered.
08 December 2008
For calculating 10 lakh limit gross amount of bills will be considered.
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