In case of a work contract, material to be used for contract includes material taxed at 12.5% as well as 5% in such case what rate of vat to be applied in sale bill ?
CA Mitesh N Kothari
(9821662799)
(391 Points)
Replied 25 December 2014
Your input Goods rate doesnt depend upon Vat rate on output.
Depneds upon your nature of business Output vat rate may vat from 4,5,8,12.5%
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