Hallo sir
i m ca final student i want to know that if a person is a works contrator he is liable for vat as well as service tax then in that case what should be the billing system.
Please explain in detail when dealer is in normal schem and if opted for composition sheme.
Thanks
Regards
Vivek
vat is applicable on the good so the vat is applicable on the goos assable value and the sevice tax is applicable on the service amount only
supose
goods value 10000
service value 20000
vat is applicable on 10000
and service tax calcualte on 20000
make total of all geting fegure for bill amount
CAclubindia
