24 August 2012
Respected all guys, we are an educational institute and now i have query regarding vat we construct one building for our college and builder raise a bill on us the bill amount is like under
net amount + vat = gross amount
now the problem is arising at the time of payment . the problem is our manager is said that when contract is made there is no clause regarding vat payment so we can not pay vat to him but builder said though it is not mentioned in contract it is statutory due and he already paid vat in government treasury of that bills so guys what is the solution is it necessary to mention in contract that vat is payable and what can i do now paid the gross amount to builder or net amount please help me out
04 September 2012
i read the article sir but my query is different the query is if it is not mentioned in contract then what is the solution vat is still payable or not.
CAclubindia
