Calculation of t.o. for 50 lacs limit
This query is : Resolved
22 April 2014
Can any one tell me whether in case of works contract using ratio 70-30, the material cost which is 70 % will be added for calculation of T.O.(for payment of tax on receipt basis). The dealer is not composition dealer.
22 April 2014
NOT CORRECT UR OPINION 70%-30% RATIO
ONLY 40% ON GROSS AS PER (24/2012ST NOTIFICATION)
CAN AVAIL NON COMPOSITION SCHEME.
YOU ARE REGISTRAR AS A VAT DEALER AND PAY TAX ON 60% OR HIGH AMOUNT.
ONLY 40% ON GROSS AS PER (24/2012ST NOTIFICATION)
CAN AVAIL NON COMPOSITION SCHEME.
YOU ARE REGISTRAR AS A VAT DEALER AND PAY TAX ON 60% OR HIGH AMOUNT.
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