Dear friends,

I would like to have clarification on the following issue:

House property cost as per books Rs.40.00 lakhs - on entire damage of the building Insurance claim received for Rs.50.00 lakhs. Please give your opinion on taxability of the excess amount of Rs.10.00 lakhs

Whether service tax is applicable on rent of diesel generating set

Sir,
We are a Residential Township Construction Company.

There are two companies under our group.
Company A is under obligation to build the Infrastructure for Company B after which Company B will build the Houses.

Now at the time of issuing infrastructure construction bills, I encounter with the following queries.

1 Company A used both labour & materials for building infrastructure. How we should raise the bill? Are VAT & Service Tax both applicable? How should we calculate both of them?

2 If Company A charges both VAT & ST in bills, will Company B be able to take input credit in its ongoing activites?

3 Plz suggest any special provision, if any hit us anyways..

4 I have heard about WCT/WSC. Do we come under this?

We are in Gujarat

Plz suggest in detail…

Bhargav
97277 07911

sir/madam
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What would be treatment of credit notes against services to clients

Regard

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