Dear All
We are an EPC Contractor and we registered under different services including Works contarct. Out of our several sites 2 are under works contract . There we are engaging sub contractors . Some contractors are charging 4.12% s.t in their bill and others 10.3. My question is whether we can take full credit on both the cases ?
| Originally posted by : Ajay s | ||
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If they are taking credit of inputs then only 40% credit allowed. if contractor is under abatement/ composition then full credit is available. |
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If they are taking means who ours or sub contarctor
If the sub contractors are availing credit of inputs like steel cement etc [ as diffrentiated from input services] and if charging 10.3 % then you can avail only 40% of the credit as per the amdnement made in FA 2011.
Sir My question is not solved so far
Under works contarct We received a n amount of 250000 + ST 10300/-
Meanwhile we paid 50000/- + 5150/- to a subcontarctor and another subcontractor 75000/ + st 3090/-
Please explain ours S.T Liability
pls solve my above if we are not availing credit of input materials
Shyam Joshi & Associates
Pune
B.Com
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T R SOOD & CO
New Delhi
CA Inter
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Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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