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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
