Vat for sub contrator under works contract
This query is : Resolved
25 December 2012
I have taken subcontract of Indian oil corp work from main contractor.Main contractor has made my payment after deducting his VAT @ 4%(As IOCL deducting 4% VAT while releasing the payment).Now the dept sent notice to me to pay VAT on the amount I received.I am in Karnataka
Please help to how to go further
Thanks
Neelesh Kulkarni
Please help to how to go further
Thanks
Neelesh Kulkarni
UMESH KUMAR PANDEY
(Expert)
26 December 2012
Mr. Dear,
Please collect your challans which have been deposited by your main contractor and submit to the department along with revised return.
Please collect your challans which have been deposited by your main contractor and submit to the department along with revised return.
MJ Krishnamurthy
(Expert)
27 December 2012
Mr Neelesh,
You have to declare your turnover in the returns and pay tax as per rules. The tax deducted TDS can be adjusted against the tax payble and refund can be claimed if exces is deducted. You have to get TDS certificates in Form 156 from main contractor and file those copies to the department along with returns.....MJK
You have to declare your turnover in the returns and pay tax as per rules. The tax deducted TDS can be adjusted against the tax payble and refund can be claimed if exces is deducted. You have to get TDS certificates in Form 156 from main contractor and file those copies to the department along with returns.....MJK
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
- Visiting card purchase
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- GST on reimbursement of expenses
- Number of years as per AS amortisation of Goodwill
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Wrong CMPo8 file
- Additional trade name
- Whether output tax is taken credit by purchaser
- Equity Share Sale and Purchase
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
