Works contract

This query is : Resolved 

19 October 2011 How can a works contractor go for composition scheme. What is the procedure of opting to Composition Scheme ?

20 October 2011 Composition option need to be take in the commencement of any financial year, once taken cannot be changed for 3 years

21 October 2011 As per as Maharashtra is concerned there is no need to opt for composition scheme for work contract ..

In a single financial year you can discharge your vat liability in various options eg. adhoc deduction ( like 30% ) , regular deduction method & composition method ( 5% or 8% ) .

Only condition is that the method should be adopted contract wise...

CA Mayur Zanwar




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