Works Contract (composition Scheme)
This query is : Resolved
06 June 2009
Hi,
I have a query on the above mentioned subject matter. the contractor is executing construction contract in the state of Karnataka.
My Query is that under the KVAT 2003 WCT Composition Scheme the contratcor does not require to include the URD purchases made in executing the contract. Does this provision still exist or do we need to inclue the URD purchases in the taxable turnover?
Secondly the dealer executing the WCT Composition scheme is not permitted to make any interstate purchases? has there been any amendmend to this provision?
Kindly Reply to these queries?
Regards
CA K.P.Vinu Iyer
I have a query on the above mentioned subject matter. the contractor is executing construction contract in the state of Karnataka.
My Query is that under the KVAT 2003 WCT Composition Scheme the contratcor does not require to include the URD purchases made in executing the contract. Does this provision still exist or do we need to inclue the URD purchases in the taxable turnover?
Secondly the dealer executing the WCT Composition scheme is not permitted to make any interstate purchases? has there been any amendmend to this provision?
Kindly Reply to these queries?
Regards
CA K.P.Vinu Iyer
07 June 2009
There have been a number of changes. A current book maybe referred.
The URD purchases by the contractor would be liable for payment of VAT under Section 3 itslef.
WCT is eligible for either a compistion or regular and in case of regular scheme this makes no differecne. Interstate purchases can be made but I think the same should be subjected to state Vat.
The URD purchases by the contractor would be liable for payment of VAT under Section 3 itslef.
WCT is eligible for either a compistion or regular and in case of regular scheme this makes no differecne. Interstate purchases can be made but I think the same should be subjected to state Vat.
07 June 2009
There have been a number of changes. A current book maybe referred.
The URD purchases by the contractor would be liable for payment of VAT under Section 3 itslef.
WCT is eligible for either a compistion or regular and in case of regular scheme this makes no differecne. Interstate purchases can be made but I think the same should be subjected to state Vat.
The URD purchases by the contractor would be liable for payment of VAT under Section 3 itslef.
WCT is eligible for either a compistion or regular and in case of regular scheme this makes no differecne. Interstate purchases can be made but I think the same should be subjected to state Vat.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Where to show the RCM on Rent paid to unregistered landlord
- RCM - commercial rent paid to URP under GST
- SEC 54 OF IT ACT
- Form 26QB for TDS on property
- GST Annual Returns filing due date
- Gst Sales of FY 2023-24
- Payable outstanding for years disallowance
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Need help with business structure for setting up a new business
- TDS applicability on Service through ECO
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
