VAT & Service TAx
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 March 2010
I have understood form my reading of the law, that on construction services in Delhi taxes are....
on 75% of the project value 12.5% VAT
& on 33% of the project value 10.3% Service Tax
i.e. We are being taxed on 75+33=108% ???of the contract value...
Is this interpretation correct ??
on 75% of the project value 12.5% VAT
& on 33% of the project value 10.3% Service Tax
i.e. We are being taxed on 75+33=108% ???of the contract value...
Is this interpretation correct ??
05 March 2010
No,it is 12.5% of the 75% of the contract value and 10.3% of the 33% of the contract value.This effectively means tax of 12.774% on the contract value.
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