Updated Online video classes available for CA,CS,CMA for May20 and Nov20 batch. Call: 1800-3000-0505

VAT on Contruction Work


Querist : Anonymous


Querist : Anonymous (Querist)
Dear Sir/Madams,
Say, ABC Pvt. Ltd.,a construction company,undertakes renovation contract worth Rs.20,00,000/- for residential unit.

As per service tax 67% abatment is there on Full Rs.20 Lakhs.

I want to know what is the liability of VAT on this contract. VAT should be levied on bill to customer. What are the conditions of VAT? I have read about Work Contract Tax also on this? What it is?


You have not mentioned the State to which the query is related.

However, in principal if the delaer has not opted composition scheme, he will be liable to VAT on the value iof the works contract by deducting charges for labour and services and profit thereon.


You need to be the querist or approved CAclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :





close
CA Learning