VAT Tax on Works Contract (Maharashtra VAT)
This query is : Resolved
24 March 2008
In case of works contracts one can take 25% deduction of total contract receipt and then pay the tax on balance amount. On this balance amount tax should be paid at what rate? whether @12.5% or depending upon the purcahses made i.e. 4% and 12.5% in proportion of purcahses made?
25 March 2008
in my view it has to be based upon purchases u made.
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