Works Contract
This query is : Resolved
12 September 2008
Sir
i have one doubt in Works contract 12.5% Tax
labour exemption 33% in Karnantaka VAT Act
if that amount not in book, Std elegible 33% or Books.
Ex: 1000/- Contract Receipt
33% - 333/- as per Kar-VAT Act Labour
Books - 250/- Actual Labour
which one exemption in VAT
Regards
Tajoddin
i have one doubt in Works contract 12.5% Tax
labour exemption 33% in Karnantaka VAT Act
if that amount not in book, Std elegible 33% or Books.
Ex: 1000/- Contract Receipt
33% - 333/- as per Kar-VAT Act Labour
Books - 250/- Actual Labour
which one exemption in VAT
Regards
Tajoddin
12 September 2008
Rs.250/-
17 September 2008
Normally- question of adhoc deductions arises only if a dealer fails to explain the expenses through his books.
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