Accounting and taxation of works contract

How to record the transaction of work contract in books of account. Like an AC fitting service provided by the person to the enterprise with some material.

Let me know how to account these transaction and also let me know the tax liability seprately under sales tax and service tax.

 

Replies (1)

Please read thoroughly this link. You will get abundent knowledge on your question.

https://www.salestaxindia.com/htms/articles1.htm

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