Taxation for lumsum dealer when work contract ogs
This query is : Resolved
04 October 2015
should contractor under composition scheme. (vat@ 0.60 ) is not entitled to OGS sale or Purchase.
but they want to take
Work Contract of MP due to good opportunity in this case
what Vat Act will effect to lumsum delear under 14A and What Is The
Rate Of Percentage Is
Applicable and how to
accouting
04 October 2015
Generally,interstate transactions are not permitted for dealers opting for composition.If you want to take up any I/S WCT you will have to apply for cancellation of composition scheme from the month starting which you need the change.ITC will be available from the date the change has been introduced only.For the old stock used in works after the change ITC may not be available......mjk
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