Work contractor tax audit limit
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 August 2011
HI
RESPECTED MEMBER
I AM LITTLE BIT CONFUSE REGARDING TAX AUDIT LIMIT OF WORK CONTRACTOR WHOSE TOTAL TURNOVER OF RS. 1 CRORE BUT OUT OF THIS MATERIAL AND LABOUR BOTH INCLUDED.
1. IF SUPPOSE IN BILL VAT NOT CHARGED SEPERATELY AND SERVICE TAX CHARGE SEPERATELY.
2. IF SUPPOSE BOTH CHARGE SEPERATELY.
PLEASE CLARIFY ABOVE BOTH SITUTION.
THANKS
IN ADVANCE
RESPECTED MEMBER
I AM LITTLE BIT CONFUSE REGARDING TAX AUDIT LIMIT OF WORK CONTRACTOR WHOSE TOTAL TURNOVER OF RS. 1 CRORE BUT OUT OF THIS MATERIAL AND LABOUR BOTH INCLUDED.
1. IF SUPPOSE IN BILL VAT NOT CHARGED SEPERATELY AND SERVICE TAX CHARGE SEPERATELY.
2. IF SUPPOSE BOTH CHARGE SEPERATELY.
PLEASE CLARIFY ABOVE BOTH SITUTION.
THANKS
IN ADVANCE
CA PARAS BAFNA
(Expert)
22 August 2011
Gross Receipts are to be considered here.
What ever the contractor receives as VAT and Service Tax, will form the Part of his Gross Receipts. The Argument that service tax or not forming part of his turnover or sales will not sustain as the word used is "Gross Receipts".
.
Aggregating and segregating VAT and Service Tax, will initiate litigation. It is better to comply with the Audit Provisions.
What ever the contractor receives as VAT and Service Tax, will form the Part of his Gross Receipts. The Argument that service tax or not forming part of his turnover or sales will not sustain as the word used is "Gross Receipts".
.
Aggregating and segregating VAT and Service Tax, will initiate litigation. It is better to comply with the Audit Provisions.
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