Works contract
This query is : Resolved
Sugandh S. Vyas
(Querist)
19 October 2011
How can a works contractor go for composition scheme. What is the procedure of opting to Composition Scheme ?
CMA Ramesh Krishnan
(Expert)
20 October 2011
Composition option need to be take in the commencement of any financial year, once taken cannot be changed for 3 years
Message likes :
1 times
CA Mayur zanwar
(Expert)
21 October 2011
As per as Maharashtra is concerned there is no need to opt for composition scheme for work contract ..
In a single financial year you can discharge your vat liability in various options eg. adhoc deduction ( like 30% ) , regular deduction method & composition method ( 5% or 8% ) .
Only condition is that the method should be adopted contract wise...
CA Mayur Zanwar
In a single financial year you can discharge your vat liability in various options eg. adhoc deduction ( like 30% ) , regular deduction method & composition method ( 5% or 8% ) .
Only condition is that the method should be adopted contract wise...
CA Mayur Zanwar
Message likes :
1 times
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
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Capital gains in IT returns
- Import Order Cancelled.
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- 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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
