sanjay jha (service) (99 Points)
31 October 2013
Focus
(CA-Final Student)
(272 Points)
Replied 07 November 2013
1. Composition Scheme under DVAT can be opted for in the beginning of the Financial Year by making an application in DVAT 01 withing 30 days of the beginning of the financial year, i.e. 30th April
2. If Composition Scheme is opted, the dealer shall have to pay tax @ 1% of the turnover of sale of all goods of the dealer.
Works Contractors opting for composition scheme are required to pay tax @ 2.5% if all turnover is under Local Act and 3% if turnover includes interstate sales.
3. You cannot purchase or sell any goods outside delhi except in case of works contractors who have opted for Tax @ 3%
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