Contrant
This query is : Resolved
Shyam Lal Naik
(Expert)
02 June 2010
The term Composite Contract can mean a number of variary of contracts.
Commonly, in tax lawas, it refers to:-
A contract involving both sale and service. For example : - A contract to purchase an equipment and installation thereof.
A contract involving more than one kind of service. For example : - A contract for mining of Iron Ore, Breaking thereof to required size, Transportation thereof to the factory etc.
So far benefit is concerned, the contractee need to deal with only one contractor for a number of supply(both goods and services). From contractor's angle, there can be synergy in execution of the contract.
Commonly, in tax lawas, it refers to:-
A contract involving both sale and service. For example : - A contract to purchase an equipment and installation thereof.
A contract involving more than one kind of service. For example : - A contract for mining of Iron Ore, Breaking thereof to required size, Transportation thereof to the factory etc.
So far benefit is concerned, the contractee need to deal with only one contractor for a number of supply(both goods and services). From contractor's angle, there can be synergy in execution of the contract.
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