10 December 2012
Mr Shh, Your letter should show the gross recipts: 1) Type of the Apartmnets : 2bhk/3bhk etc. 2) Area,rate &cost : .....Sq ftxRs...../sq ft= Rs....... 3) Less : 40% land cost Rs.... 4) Construction cost Rs...... 5) VAT payable @5%/4% Rs......(if under composition) 6) If under VAT scheme: Less: labour cost: 30% of construction cost Rs ...... 7) Amount taxable @ 12.5%/as applicable.. Rs........ 8) VAT payable Taxable amountx0.125(or as per the rate applicable)= Rs........ 9) ST payable 4.12% on item 4 above or 12.36% of item 6 above 10) Amounts payable i)Item NO 2.........Rs ii)VAT payable(item 5 or 6)Rs.... iii)ST payable(item no 9) Rs.... 11) Payments for amenities; i)Club house.... .... ii)Gym .... ... iii)swimming pool, ... 12)Collection of other charges, i)Water connection, ... ii) Electricity Conn ... iii) Regn...etc ...
13) Gross total Payable.........Rs items 10,11,12 14) Less Advances paid... Rs 15) Balance due ... Rs make changes as required....MJK
CAclubindia
