Aggregate taxable service
This query is : Resolved
23 January 2016
I am a works contractor. My turnover is Rs. 2 crores in FY 2012-13. Out of my turnover Rs. 706500 is supply of tangible goods which is taxable and balance amount is received from construction of road which is exempted under service tax sl no. 13 of notification no. 25/2012.Here my question is whether I can avail exempted limit 10 lacs or not
Guest
Guest
(Expert)
23 January 2016
Out of Rs 200 Lacs only Rs 7 lacs is goods and balance of Rs 193 lacs is works contract. Rs 193 lacs contains both supply and service - only service component is exempt. For 193 Lacs, some portion (usually 50-60% depending on the state ) will be considered as supply. So 60% of Rs 193= Rs 116 Lacs plus 7 lacs = Rs 123 lacs will be considered as supply of tangbile goods
So the vat exemption will not apply to you. You have to file VAT return to state
So the vat exemption will not apply to you. You have to file VAT return to state
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