Composite vat rate for karnataka

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 February 2013 Dear Experts,

Can anyone tell me what is the Composite VAT rate & turnover limit to avail the Composite option.

We are into Construction business from Karnataka,

Regards

CA. Hari Kishan

CA. Hari Kishan (Expert)
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04 February 2013 Presently the Composition rate of tax is 4%

Querist : Anonymous

Querist : Anonymous (Querist)

05 February 2013 Dear Hari,

I would like to no the threshoild limi to avail the composite scheme i.e gross turnover.

Regard

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CA. Hari Kishan

CA. Hari Kishan (Expert)
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05 February 2013 Incase of construction contracts there are no threshold limits specified under the Karnataka VAT. The dealer under works contract can opt for composition scheme having any TO.