"Providing and fiting 1" pipe pvc and necessary fitings earth work" Rs.1900. Does it attract VAT inaddition to TDS @ 1%and if so, VAT is to levied inclusive of TDS or on value only.
5 Replies
CA and CMA Ravinder Singh
(CA and CMA)
(853 Points)
Replied 18 July 2013
vat is chargeable on the value of material and the tds is deductable on service portion.......
Learner
(ADMIN)
(107 Points)
Replied 18 July 2013
Actually, the consideration quoted is inclusive of labour.How do I seggregate??
CA and CMA Ravinder Singh
(CA and CMA)
(853 Points)
Replied 18 July 2013
Ask the issuer of invoice for seggregation of amount between labour and material......if the seggregation is not possible then TDS is required to be deducted on the whole amount inclusive of value of material given that the requirements of section 194C are met.
Mrs.Girija Kumar
(Bank )
(98 Points)
Replied 23 July 2013
@ RAvinder Singh.
TDs agreed.VAT:::: to be levied on value + tds or value alone(in case of non seggregation).
And is there any threshold for VAT like TDS..
CA and CMA Ravinder Singh
(CA and CMA)
(853 Points)
Replied 23 July 2013
vat to be levied only on value.......and provisions of vat are as per respective state vat acts......
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