How VAT would be charged
This query is : Resolved
CA AYUSH WADHWA
(Querist)
21 September 2010
Please tell me whether a real estate agent dealing in construction contracts also would have to get himself registered under both service tax & delhi vat also ? and he would be bifurcating the invoice into service & material components to charge both of them respectively...! correct me if i am wrong because i doubt i am wrong
B R Ramesh
(Expert)
23 September 2010
hi
if the real estate agent has registered under vat 75% of the total value of invoice he should charge VAT
balance 25 % of the labour he should pay the service tax under WCT
or the ratio will be 66% of material
33% will be labour component
if the real estate agent has registered under vat 75% of the total value of invoice he should charge VAT
balance 25 % of the labour he should pay the service tax under WCT
or the ratio will be 66% of material
33% will be labour component
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