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Composition Scheme

This query is : Resolved 
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(Querist)
09 June 2010 Dear sir,

i want to know about VAT composition scheme. when it is applicable or after accept this scheme ,,,are there any benifit for accepter of this scheme,,,,what is the demerits of this scheme,,,,

plz solve my this problem ...
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
09 June 2010 VAT composition scheme is applicable when then billing unable to segregate the Material and Labour portion. it is helpful in that situation and VAT rate applicable on concession rate on the total contract value
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