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
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Consolidated financials
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- TDS on TRUST
- Regarding Applicability of Tax Audit u/s 44AB
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
