Option available to Contractor under Works Contract Act

Sandeep Rathi (Account) (79 Points)

21 April 2008

Please let me know in exact & short words:-

1. Option available to Contractor

2.Under which Law & Section 67 % of Contract Value get deducted to levy VAT on Works Contract.Is it under VAT Act or Service Tax Act (Finance Act)

Reply
Follow
Share

4 Replies

biren thakkar (accounts manager) (231 Points)
Replied 21 April 2008

under wchich state VAT rules you wanted

Sandeep Rathi (Account) (79 Points)
Replied 23 May 2008

In the states of maharashtra

(Guest)

67% abatement is available under Service tax and if we avail the abatement we can't get input tax credit under CENVAT Credit Rules.

durga prasad (sr.manager) (31 Points)
Replied 21 July 2009

Originally posted by :Sandeep Rathi
"	Please let me know in exact & short words:- 1. Option available to Contractor 2.Under which Law & Section 67 % of Contract Value get deducted to levy VAT on Works Contract.Is it under VAT Act or Service Tax Act (Finance Act) Please let me know about the applicability of works contract to repairs(repairs to vehicles ) - where there is not transfer of property is involved	"