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20 January 2009 HOW TO CALCULATE SET OFF WHEN THE DEALER HAS OPTED FOR THE COMPOSITION SCHEME IE BOTH 8% AS WELL AS 5%
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
01 July 2009 These are rates for Composition Scheme in case of Works Contract.

In case the rate is 8%, the set-off would be reduced by 36% of the set-off amount.

In case the rate is 5%, the set-ff would be reduced by 4& of Purchase Price.

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