Please let me know in exact & short words:-
1. Option available to Contractor
2.Under which Law & Section 67 % of Contract Value get deducted to levy VAT on Works Contract.Is it under VAT Act or Service Tax Act (Finance Act)
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Option available to Contractor under Works Contract Act
Replies (4)
under wchich state VAT rules you wanted
In the states of maharashtra
67% abatement is available under Service tax and if we avail the abatement we can't get input tax credit under CENVAT Credit Rules.
| Originally posted by :Sandeep Rathi | ||
| " | Please let me know in exact & short words:- 1. Option available to Contractor 2.Under which Law & Section 67 % of Contract Value get deducted to levy VAT on Works Contract.Is it under VAT Act or Service Tax Act (Finance Act) Please let me know about the applicability of works contract to repairs(repairs to vehicles ) - where there is not transfer of property is involved |
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