Composition scheme
This query is : Resolved
Anurag Banafar
(Querist)
03 November 2014
Dear Sir..
Plz suggest if in the the work contract composite scheme where supply & services is already bifercated by the vendor in 70% & 30 % retio respectively. then which service & Vat tax rate is applicable on same under maharashtra vat in civil constuction work?
Regards
Anurag
Plz suggest if in the the work contract composite scheme where supply & services is already bifercated by the vendor in 70% & 30 % retio respectively. then which service & Vat tax rate is applicable on same under maharashtra vat in civil constuction work?
Regards
Anurag
Harsha goyal
(Expert)
08 November 2014
service tax shall be applicable at 12.36% whereas sales tax rate shall depend upon the items used. it can be 4%, 12.5% etc.
Anurag Banafar
(Querist)
18 November 2014
Darm Mam...
But in Some Cases, it may be with 8 % Vat Rate..can u provide the condition in which 8 % VAT rate is to be applied?
But in Some Cases, it may be with 8 % Vat Rate..can u provide the condition in which 8 % VAT rate is to be applied?
Harsha goyal
(Expert)
20 November 2014
Yes that is composition scheme. In this vat is payable @ 8% on turnover. You can find details on:
https://www.bcasonline.org/articles/artin.asp?532
https://www.bcasonline.org/articles/artin.asp?532
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