Vat on works contract
This query is : Resolved
28 January 2016
Dear Sir
A person carries on painting and designing business.He charges service tax by availing abatement of 30% as activity is covered under works contract.He charges Vat @8% under composition scheme for the same.Should he charge vat on basic or Basic+Service tax?
28 January 2016
On the basic contract value.
29 January 2016
It should be on basic value.
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