jnj fincon (Prop) (88 Points)
07 February 2011One of my client taken up works contract in gujarat. Total construction of building with electrificatio, Air conditioning, fire fighting & Interiors. I want to know about Composition Scheme with notification about rate.
How is composition schme applicable, exemptions, exclusions, Rate etc..
Dhaval Joshi
(Tax Consultant)
(64 Points)
Replied 30 January 2017
For Works contractor composition scheme has been obtain by apply in form no. 214A to the concern unit of sale tax department. An order for granting a permission of composition scheme has been given by them in 215A. Works contractor have to pay a tax with 0.6% for total turnover. No exemption has to be given to the dealer, On the total amount of sale i.e. turnover dealer have to pay a lumpsum tax @ of 0.6%. There is no limit of turnover applicable to contractor for discharging composition scheme.
CAclubindia
