Works contract
This query is : Resolved
14 March 2014
I want to know,
first, whether contractor can opt for composition scheme for one contract and on other hand for other contracts vat liability is paid as per normal procedures . Is this practice correct ?
second , What is significance of Rs. 50 lakhs turnover under composition scheme ?
pls reply as per Maharashtra value added tax act
Thanks
first, whether contractor can opt for composition scheme for one contract and on other hand for other contracts vat liability is paid as per normal procedures . Is this practice correct ?
second , What is significance of Rs. 50 lakhs turnover under composition scheme ?
pls reply as per Maharashtra value added tax act
Thanks
14 March 2014
NO he can opt if his total T/O is below 50 lacs in the last year.
14 March 2014
u have not mentioned abt the state's name?
14 March 2014
He can opt only if the Turnover in the last year is below Rs. 50L..
14 March 2014
hi...
first of all, i would like to tall that the significance of rs.50 lakhs t/o limit for composition scheme is not applicable to the work contact as register under g vat law.
however register as work contract there is not limit of t/o to opt composition scheme.
second work contractor can opt for composition scheme for one contract by applying in form 214A and he will get certificate from department in form no.215A
first of all, i would like to tall that the significance of rs.50 lakhs t/o limit for composition scheme is not applicable to the work contact as register under g vat law.
however register as work contract there is not limit of t/o to opt composition scheme.
second work contractor can opt for composition scheme for one contract by applying in form 214A and he will get certificate from department in form no.215A
Message likes :
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14 March 2014
Hello there is no limit of T/O contractor may get exemption certificate up to total value of contract
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