Dear sir
There is works contract bill i received for carpentry,civil,modular furniture and electrical/networking work done in office where he charged MVAT @ 8% as well as service tax @ 4.12% so,whether we can get the set off under MVAT for full amount if not then please clarify and whether we have to deduct the TDS.The contractor is opting for composition scheme.
Dear Nilesh
You can get the set off for the 8% charged.
However you are liable to deduct TDS @ 2% if the dealer is registered and the 8% purchases made by you during the year exceeds 5 lacs.
Deduct TDS @ 4% if the dealer is not registered.
set off can not be claimed as dealer as charged 8% composite rate.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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