How vat return filled for construction business
This query is : Resolved
Aslam Khatri
(Querist)
19 May 2015
hello sir
my business is for works contracts. i have already register with Gujarat vat department. can i take input vat for purchase of purchase of goods. how can i paid output tax to setoff my input credit.
i already take credit of tax invoice purchase of material like. cement, steel, electrical material, plumbing and hardware items ,sand and stone etc.
i want to know about can i take credit of all tax invoice purchase. on which amount i will pay out put tax to sett off my credit.
my business is for works contracts. i have already register with Gujarat vat department. can i take input vat for purchase of purchase of goods. how can i paid output tax to setoff my input credit.
i already take credit of tax invoice purchase of material like. cement, steel, electrical material, plumbing and hardware items ,sand and stone etc.
i want to know about can i take credit of all tax invoice purchase. on which amount i will pay out put tax to sett off my credit.
Mayur Gondaliya
(Expert)
20 May 2015
If You Registered in Composition Scheme Than You Are Not Eligible For Credit on Your Purchase (Most of Civil Work Contractor Get Themselves Registered under This Scheme)
You are Suppose To Pay 0.6% Flat VAT on Any Amount Received by way of token, booking and if otherwise on bill issued to client.
you can not charge any VAT on your Client. You have to pay 0.6% out of your business resources
You are Suppose To Pay 0.6% Flat VAT on Any Amount Received by way of token, booking and if otherwise on bill issued to client.
you can not charge any VAT on your Client. You have to pay 0.6% out of your business resources
Aslam Khatri
(Querist)
20 May 2015
but sir my t/o exceeds rs.75 lacs in previous year i cant avail composition scheame.
Mayur Gondaliya
(Expert)
20 May 2015
THERE IS NO TURNOVER LIMIT FOR CIVIL WORK CONTRACT SCHEME
Aslam Khatri
(Querist)
20 May 2015
i availed normal vat scheme other then composition scheme. which method i will follow
Mayur Gondaliya
(Expert)
25 May 2015
YOU HAVE TO FILE NORMAL RETURN I.E FORM NO 201, 201A, 201B AND 201C.
FOR FIRST 12 MONTH AFTER TAKING REGISTRATION YOU SUPPOSE TO FILE MONTHLY RETURN AND DURING THIS PERIOD IF VAT/CST PAYABLE EXCEEDS 60,000 YOU CONTINUE WITH MONTHLY CATEGORY OTHERWISE SHIFT TO QUARTERLY RETURN.
YOU TAKE INPUT CREDIT OF ALL GOODS WHICH IS USED IN MANUFACTURING OF FINAL GOODS OR OUTPUT.
FOR FIRST 12 MONTH AFTER TAKING REGISTRATION YOU SUPPOSE TO FILE MONTHLY RETURN AND DURING THIS PERIOD IF VAT/CST PAYABLE EXCEEDS 60,000 YOU CONTINUE WITH MONTHLY CATEGORY OTHERWISE SHIFT TO QUARTERLY RETURN.
YOU TAKE INPUT CREDIT OF ALL GOODS WHICH IS USED IN MANUFACTURING OF FINAL GOODS OR OUTPUT.
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