vat
This query is : Resolved
26 October 2009
Dear Sir,
We have received Consturction bill of factory from Party.
Can we deducted on Vat TDS ?
We have no idea of VAT TDS.
Can reply my some answer?
01. What is mean by Vat TDS?
02. What is the rate of Vat TDS?
03 Why it is deducted on Construction Bill ?
Please reply the same.
Regards
Deepak
We have received Consturction bill of factory from Party.
Can we deducted on Vat TDS ?
We have no idea of VAT TDS.
Can reply my some answer?
01. What is mean by Vat TDS?
02. What is the rate of Vat TDS?
03 Why it is deducted on Construction Bill ?
Please reply the same.
Regards
Deepak
27 October 2009
under IT Act 1961, TDS is deducted on gross value of bill. If bill raised is composite in nature i.e both value of services eg labour , technical/professional in nature and also includes value of supply on which VAT is applicable in such situation TDS on gross value is applicable
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