Works Contract

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 May 2010 in the case where assessee has not intimiate to the department regarding opting of the composit scheme [cs] of the works contract and forget same mentioninig in the ST-3,can department impose the differentail tax laibility [ 10.3%-4.12%]to the assessee just on the reason for the non intimation to the department regarding comosite scheme of works contract ?

Sanjeev Kumar

Sanjeev Kumar (Expert)
Follow

14 May 2010 i think you can remain pay tax under composition. showing or forget to mentioned the facts in return ST3 doesn't meant to change the facts of transaction / scheme. you can still carry on composition scheme and inform to AO accordingly.