Whether amc is works contract?
This query is : Resolved
17 November 2014
whether AMC is works contract.
When does AMC amounts to works contract?
whether MVAT TDS is applicable for AMC transaction , if AMC amount exceeds RS.50000 in a FY?
When does AMC amounts to works contract?
whether MVAT TDS is applicable for AMC transaction , if AMC amount exceeds RS.50000 in a FY?
17 November 2014
AMC is a works contract if it involves material and labor. MVAT TDS is applicable if turnover exceeds 5 lakhs in a year.
17 November 2014
services procured will not form part of turnover.
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