composition scheme in Vat

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Querist : Anonymous

Querist : Anonymous (Querist)

03 January 2011 Hi friends this is Siva pursuing cwa nwely registered in ca alub as a member.I am working as an Accountant in OmSai Thermax Engineers which carries works contracts in mes recently got an order from DRDL worth Rs 41,00,000/- now what my question is for this contract whether i have to opt Composite Scheme Or Non composition scheme for VAT payment.The contract is installation, testing and commissioning of AC's and for this contract the input vat on purchases will be approximately 3,50,000/- and also we recive Form 501 from the contractors. Please advise me with the suitable answer it's very urgent

Querist : Anonymous

Querist : Anonymous (Querist)

07 January 2011 please resolve the above query

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