Tax on the contract work
This query is : Resolved
28 May 2015
dear sir,
on of my client registered under the COT (Commercial tax) and Service tax. AS per COT he has to pay tax on 100% of the works contract and also on 70% he has to pay the service tax.
But as per explanation given by him,,, he has only 30% of the labour involved in his work and remaining 70% is the material.
So he is in situation of not getting any tender work if he quotes such an higher value for the work .
What can be the solution in favour him. kindly suggest.
thanks in advance
on of my client registered under the COT (Commercial tax) and Service tax. AS per COT he has to pay tax on 100% of the works contract and also on 70% he has to pay the service tax.
But as per explanation given by him,,, he has only 30% of the labour involved in his work and remaining 70% is the material.
So he is in situation of not getting any tender work if he quotes such an higher value for the work .
What can be the solution in favour him. kindly suggest.
thanks in advance
28 May 2015
Please let me know your client is register under which state vat and status of your client (ie comapny, firm etc). Further I belive tender clause do have provision for qouting vat rate for dealer registered under composition scheme under vat. So your client qoute rate as per COT.
Normally COT Vat rate on 100% value of contral and ST rate on 70% value of contract to be qouted on the tender as your client is COT dealer
Normally COT Vat rate on 100% value of contral and ST rate on 70% value of contract to be qouted on the tender as your client is COT dealer
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- SFT Cash Deposit in Current Account
- Annual return in Gst
- Regarding TDS Applicability For Director Remuneration
- Requirement of tax deduction at source by individual
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
