Vat composition scheme

This query is : Open

Querist : Anonymous

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?

Ketan Shah

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

Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2015 Sir I m asking for Maharashtra Value Added Tax...

Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2015 Sir I m asking for Maharashtra Value Added Tax...

Harshal Fifadra

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

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