works contract tax maharashtra
This query is : Resolved
05 March 2010
sir,
my client has a Electrical works contractor in Maharashtra. He has TIN No. & CST No. of Maharashtra & has TIN No in Karnataka.
Suppose, if he executed the work contract of Rs.50,00,000/- in Karnataka & Rs.50,00,000/- in Mahatashtra during the year 2009 - 10 then how will calculate the VAT Tax in Maharashtra & Karnataka
plssssssssssss send me example and return form of VAT
Sir, pls help Me?????????????????????????
my client has a Electrical works contractor in Maharashtra. He has TIN No. & CST No. of Maharashtra & has TIN No in Karnataka.
Suppose, if he executed the work contract of Rs.50,00,000/- in Karnataka & Rs.50,00,000/- in Mahatashtra during the year 2009 - 10 then how will calculate the VAT Tax in Maharashtra & Karnataka
plssssssssssss send me example and return form of VAT
Sir, pls help Me?????????????????????????
07 March 2010
Under MVAT Act and Rules, for Works contact three options are there:
1) Composition Scheme U/s 42 were 8% tax is payable on total works contract on Non-Contruction contract with retention of setoff of 66%.
2) Actual method as per rule 58, were tax is payable as per goods transfered and full setoff is available.
3) Percentage Method as per Rule 58, were deduction of 25% or as per given table will be available from the contract amount and on balance tax to be paid.
Please refer to above rules for more details.
Form No 233 is there for Works Contracts.
1) Composition Scheme U/s 42 were 8% tax is payable on total works contract on Non-Contruction contract with retention of setoff of 66%.
2) Actual method as per rule 58, were tax is payable as per goods transfered and full setoff is available.
3) Percentage Method as per Rule 58, were deduction of 25% or as per given table will be available from the contract amount and on balance tax to be paid.
Please refer to above rules for more details.
Form No 233 is there for Works Contracts.
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Section 50-fixed asset-->building ceases to exist
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Putting a heading on received mail
- Reprocessing of rectification order AY 2025-26
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regarding Applicability of Tax Audit u/s 44AB
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
