dear all
we are doing civil work construction at sez unit,invoice amount rasied (inculding material )but we will not show the material value in the bill. whether we need to pay vat and we are eligible for to claim input credit and we need to submit the monthly return in Form I or Form L.
which vat karnataka ,tamilnadu
Since it is a Works contract in SEZ, the VAT payable on material value on total amount of invoice & ST(exempted) on labour portion on the value of the invoice in case if you are a regular tax payer in karnataka. In case if you composite tax payer the VAT 4% on entir value of invoice & ST4.12% IS EXEMPTED.
Regarding the input tax, if you are a regular tax payer it is allowed and composite tax payer not allowed. However the recent budget says that the XCement, steel , etc are not allowed as input for construction projects.
can anyone guide mi as whether Works Contract to SEZ is totally exempted including Material & Labour or is it only Material....& also if material is not mentioned separetly then is it that i shall claim only 30% abatement
what is Amendment w.e.f 06.02.2008in this area.
Matter relates to Andhrapradesh VAT
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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