Works Contract (composition Scheme)
This query is : Resolved
K.P.VINU IYER
(Querist)
06 June 2009
Hi,
I have a query on the above mentioned subject matter. the contractor is executing construction contract in the state of Karnataka.
My Query is that under the KVAT 2003 WCT Composition Scheme the contratcor does not require to include the URD purchases made in executing the contract. Does this provision still exist or do we need to inclue the URD purchases in the taxable turnover?
Secondly the dealer executing the WCT Composition scheme is not permitted to make any interstate purchases? has there been any amendmend to this provision?
Kindly Reply to these queries?
Regards
CA K.P.Vinu Iyer
I have a query on the above mentioned subject matter. the contractor is executing construction contract in the state of Karnataka.
My Query is that under the KVAT 2003 WCT Composition Scheme the contratcor does not require to include the URD purchases made in executing the contract. Does this provision still exist or do we need to inclue the URD purchases in the taxable turnover?
Secondly the dealer executing the WCT Composition scheme is not permitted to make any interstate purchases? has there been any amendmend to this provision?
Kindly Reply to these queries?
Regards
CA K.P.Vinu Iyer
Madhukar N Hiregange
(Expert)
07 June 2009
There have been a number of changes. A current book maybe referred.
The URD purchases by the contractor would be liable for payment of VAT under Section 3 itslef.
WCT is eligible for either a compistion or regular and in case of regular scheme this makes no differecne. Interstate purchases can be made but I think the same should be subjected to state Vat.
The URD purchases by the contractor would be liable for payment of VAT under Section 3 itslef.
WCT is eligible for either a compistion or regular and in case of regular scheme this makes no differecne. Interstate purchases can be made but I think the same should be subjected to state Vat.
Madhukar N Hiregange
(Expert)
07 June 2009
There have been a number of changes. A current book maybe referred.
The URD purchases by the contractor would be liable for payment of VAT under Section 3 itslef.
WCT is eligible for either a compistion or regular and in case of regular scheme this makes no differecne. Interstate purchases can be made but I think the same should be subjected to state Vat.
The URD purchases by the contractor would be liable for payment of VAT under Section 3 itslef.
WCT is eligible for either a compistion or regular and in case of regular scheme this makes no differecne. Interstate purchases can be made but I think the same should be subjected to state Vat.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- MSME disclosure and disallowance
- EPF ECR NEW RULES Sep 17th 2026
- Taxation of crypto futures in India Fy 2026- 2027
- Issuing of delivery challan by seller of goods
- Transfer of Physical Stock Between Two Proprietorship Concerns
- 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
- 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
- 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
