Karthick (Manager Finance) (47 Points)
06 August 2012Dear Seniors and fellow students,
Our organisation is into a new business of building body works for Commercial vehicles. I would to know
1.What are all the formalities to be complied?
2. In which catagory of service, will this come?
3. What are the VAT compliances to be done?
4. Whether it needs service tax compliance?
Request you to kindly check and advise.
Best Regards, Karthick Venkataraman
MJ Krishnamurthy
(ACCT(Retd))
(7197 Points)
Replied 07 August 2012
Mr Venkataraman,
Building of bodies on a chassis is a work contract. VAT is applicable on the transfer of property involved in it. On the labour and services part ST is chargeable. Now any service is taxable except those in the negative list. Construction of bodies of commerciall vehicles is not an exempted activity......MJK.
CAclubindia
