I have understood form my reading of the law, that on construction services in Delhi taxes are....

on 75% of the project value 12.5% VAT
& on 33% of the project value 10.3% Service Tax

i.e. We are being taxed on 75+33=108% ???of the contract value...

Is this interpretation correct ??

Please can anybody tell me under which circumstances Work Contract Tax will be applicable?

Whether i can take Set off of VAT tax paid on computer for office and

For example
Computer purchased of Rs 20000
and VAT paid of Rs 800

Then How much amount I am eligible for set-off.

Thanks in advance for reply

Hi,

Whether Set -off can be avail of VAT tax paid on repair and maintenance of office premises ( Shop ).

If yes then how much percentage ?

Thanks

I have been doing restaurant audit which is a franchise of some other restaurant which is situated in mumbai.. now they are getting a commission @ 6% comn on sales.. They are also charging 4% CST on Commission & 10.3% Service charges on d total of two..

Now is it correct to charge 4% CST on commission amount as they are saying it is in their circular that for all other franchise they shall charge CST..

Please reply soon..

A proprietor deals in sale of petty electrical goods at shop & his major business consists of electrical fittings contract , which includes goods as well as labour charges.here we can take his goods to labour charges ratio to approx. 90:10.

So if anybody could please explain,how to charge VAT here..

Currently he is charging VAT on goods & showing labour charges separately in the invoices on which no tax is levied.He also avails set off on input goods used.

I will be thankful if this issue gets resolved. Thanx in advance!!!!

In case of capital goods, only the amount of fixed asset purchased has to be capitalised and not the vat amount if the vat portion is taken for input credit purposes.
Similarly in case of purchase of raw material, vat paid will be taken as input credit and whether purchases has to be accounted excluding vat portion?
Since two benefits are availed: one is vat input credit and other one is, vat on purchases is also claimed as expense.

Hi all,

Is VAT applicable on lease of asset....if applicable when we have to pay and on what amount...Every month on lease installment or at the inseption of lease on the total amout....in the same way on hire purchase also...pls clarify...

hi,

can any body know about M vat Payment Date & Return Date.


Thanks

Sandeep
9811578637

i have filed appeal aginst penalty for inacurate retrun file. I have filed return before inclusion of sale of tender document. the tax on sale of tender document has deposit after assessment but i have filed appeal against penalty for late filling and inacurate return (not inclusion of sale of tender document)now wt is the chance of wave of penalty