Works contract on VAT
This query is : Resolved
03 December 2007
Respected Members,
One of our client fall in work cotract. They supply material and labour to the parties on which the concerned party has deducted the TDS.
I wants to know the related provisions regarding the same in current VAT system.
I also wants how to represent the Work Contract Sale in Section G of Form 704.
Regards,
Prabhakar
One of our client fall in work cotract. They supply material and labour to the parties on which the concerned party has deducted the TDS.
I wants to know the related provisions regarding the same in current VAT system.
I also wants how to represent the Work Contract Sale in Section G of Form 704.
Regards,
Prabhakar
04 December 2007
If there are two separate contracts, one for supply and one for labour (only labour and no involvement of any goods), No works contract for VAT Purposes.
In other words, no VAT can be imposed on any contract of pure services (in which propety in goods does not passes in execution of such works contract)
In other words, no VAT can be imposed on any contract of pure services (in which propety in goods does not passes in execution of such works contract)
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