Section 2(119) Works Contract
(119) “works contract” means a contract for building, construction, fabrication, completion, erection, installation, fitting out, improvement, modification, repair, maintenance, renovation, alteration or commissioning of any immovable property wherein transfer of property in goods (whether as goods or in some other form) is involved in the execution of such contract;
Okay so the question is that I get my car painted from a car painter. The paint as well as labour belongs to him. But as per definition of works contract above, it doesnt fall its definition as car is a movable property.
So how will painter bill me in this case.
What will be its treatement in my hand vis a vis Input Tax Credit?
regards
shivani
CAclubindia
