Works Contract in MVAT
This query is : Resolved
08 January 2011
Respected Sir,
Can you plz tell me,
1.Definition of "works contract" in MVAT.
2.VAT rate applicable to works contract.
3. Is the service tax applicable to the portion of works contract on which vat is not payable.
Thanks,
Sumit
Can you plz tell me,
1.Definition of "works contract" in MVAT.
2.VAT rate applicable to works contract.
3. Is the service tax applicable to the portion of works contract on which vat is not payable.
Thanks,
Sumit
08 January 2011
Hi
the work contract means
the work carried over useing MEN & METERIAL to compleate the project.
like construction of road & bridges & dams, Residential & commercial building or any fabrication, laying, eraction , installation of men & material.
rate of VAT is 4% under composition scheme for the whole invoice amt
rate of servixe tax is 4.12% under compmosition scheme for the whole invoice amt
the work contract means
the work carried over useing MEN & METERIAL to compleate the project.
like construction of road & bridges & dams, Residential & commercial building or any fabrication, laying, eraction , installation of men & material.
rate of VAT is 4% under composition scheme for the whole invoice amt
rate of servixe tax is 4.12% under compmosition scheme for the whole invoice amt
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