Works contract set-off

This query is : Resolved

Dipesh Sambhaji Dalvi (Querist)
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28 May 2013 A Sub contractor executed a job on which he received form 406 & 409 i.e.the main contractor shall execute the liability. Whether he shall be entitled to set-off on his purchase of goods?
If yes, whether the assessing officer can apply retention on set-off if the main contractor has paid by way of composition tax?
Please give circular no. of retention if any

Prakash Kochar

Prakash Kochar (Expert)
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29 May 2013 Sub contractor will have to follow the composition scheme for payment of VAT (Mah),
Though tax on sale under contract is paid by Main contractor, sub contractor will be eligible for set off of input credit after retention.
See : Circular No : No.VAT/ AMD-1008/IB/ADM-06 Trade Cir.39 T of 2008
Dated : 15/11/2008
Amendment to Rule 53(4)

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