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Vat composition scheme

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 January 2015 Dear Sir/Madam,
I would like to know what are the exact conditions to enter into a Vat Composition Scheme for the Accounting year 2014-15.Is there no input tax credit available on the purchases?Who all can enter into vat composition scheme?IS this Vat composition scheme available for Works Contract dealing in electrical & mechanical items?For that also the Gross turnover should be less than Rupees 50 lakhs?
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Ketan Shah

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Ketan Shah (Expert)
01 January 2015 Please specify for which state vat law you require details.
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Querist : Anonymous

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Querist : Anonymous (Querist)
01 January 2015 Sir I m asking for Maharashtra Value Added Tax...
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Querist : Anonymous

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Querist : Anonymous (Querist)
01 January 2015 Sir I m asking for Maharashtra Value Added Tax...
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Harshal Fifadra

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Harshal Fifadra (Expert)
02 January 2015 No ITC available on purchases for composition dealers. Yes , composition scheme is available for works contract dealers.
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