This is Pratheek from Bangalore. My Doubt is : I have a bill of Rs.5,58,254/- it includes Rs.3,72,285/- of material cost, Rs.46,36/- is VAT , Rs.1,24,095/- is Labour Charges and Rs.15,338/- is Service tax . In which The value of the Material is going to be capitalised. So on Which amount i have to deduct T D S is it on Whole bill value or On Labour Charge.
09 March 2009
whole since bill is rased for a contract. bifurcation is done only for the purpose of charging indirect taxes vat amou nt must be rs. 46536 and not 4636 i.e. 12.5% on material
CAclubindia
