Can any1 share d provisions relating to eligibility, chargeability, taxability, claiming credit & rates of work contract tax under vat. Also state dat whether service tax n tds is applicable on d same? Also which kind of services are covered under dis act?
Plz reply me ASAP...
Thanks in advance,
CA Sudipta Bandyopadhyay.
Limted knowledge shared here
VAT is applicable on works contract in tamil nadu we have distinction between civil and non civil and rates are designed accordingly
Service tax applicable on works contract one kind of valuation is on the entire bill 70% value is taken for charging service tax and 70% value is taken for computing vat
TDS is applicable under 194c for labour portion based on the threshold limit applicable
CAclubindia
