Applicable VAT RATE

Its a work contract, if he is not maintaining records for specifying the material cost and service cost then he choose Composit scheme as per that Contractee deducted WCT @ 2.8% on contract value i.e 70% of Contact value @ 4%. In this case he is not eligble for availing Input tax credit on material used for execution of the Work. If he maintained records then he charged the applicable rate of items as per Scheduled rates My contact No : 99891 57666, Email: nageswararao.bommakanti @ ril.com Land No 0884 - 2388343.

If the supplier is works cotnract tax WCT, if he oppts for composite tax tax rate 4% and in the vat 12.5%

i want to get knowladge about vat

i want to get knowladge about vat

required for ammendment of vat

Very userful Site

yes, rate of composition or lumsum is vary from state to state,of which state's rate do u like to know ? sunil

Originally posted by :Guest
"	i want to get knowladge about vat	"

 

Please give set off on capital purchase items