25 August 2010
Only the material or goods supplied in relation to the works VAT attaracts. You need to identify the supplied goods covered under which rate of tax
Querist :
Anonymous
Querist :
Anonymous
(Querist)
25 August 2010
How the value of Sales will be determined as there will be no separate bill for materials used in contract???
And what will be the case if materials are supplied by Contract Awarder
25 August 2010
Act is not asking you are making separate bill or single bill, but the requirment is VAT will be charges if the materials sold and Service tax will be charged if the service provided. My suggestion is you raise the bill separately your tax will be saved, becasue under VAT you can claim Input VAT also
If the material issue by the contractee, then you donot have any VAT Liability, only service tax apply