05 January 2014
Hello friends, one person(indiviual) started their business for providing the AMC services of computers and also sold the parts of computers and replaces the some parts of computer along with services if necessary.
plz tell me, regarding the classification of service and also tell me regarding DVAT???
06 January 2014
In all VAT Acts,even under comprehensive AMC vat has to be paid for the cost replacements made/sold.If free replacements are made under manufacturer's warranty period,then vat is not liable.But if such replacements are made under a kind of composite contract,then the materials/components replaced are to be considered as sold and tax has to be paid although no invoice is issued.It becomes a transfer of property in a contract.....mjk
CAclubindia
