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Composition scheme for contract dealers whose tds deduct

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08 November 2011 i am a contract dealer of delhi & i have composition scheme of Dvat. i want to ask that in the composition scheme can i take benifit of tds on contract work when i filup my composition Dvat return.
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mithun

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mithun (Expert)
10 November 2011 Persons issuing works contracts will be notified by the Sales Tax Department if they are required to deduct tax at source. The rate of tax to be deducted would be as notified.
The person deducting the tax is required to deposit the tax with the Sales Tax Department within a specified time limit.
You will be given a Tax Deduction Certificate by the Contractee for the amount of tax deducted. You can deduct this amount from the VAT you are liable to pay on the works contract at the time you complete your VAT returns.
A works contractor can apply to the Sales Tax Department for a certificate limiting the amount of tax to be deducted at source in cases where the dealer can demonstrate that the tax to be deducted will exceed the tax due.
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