Please tell any one how to calculate works contracts vat tax
2 Replies
dayananda
(tax consultant)
(45 Points)
Replied 28 March 2011
Works contract Tax is either 6% or 14.5% depending on the nature of Works Contract,
Works contract Tax rates are mentioned in the Schedule to VAT Act.
Mahabaleshwara Rao
(director)
(197 Points)
Replied 01 April 2011
For supply of materials apply the rate of tax applicable to that goods under K VAT.
For civil portion deduct labour and other incidental expenses incurred to arrive the taxable turnover.
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