Return cum Challan 405

Please let me know what is Form 405 and 406 used under MVAT. And also its significance with composition scheme of works contract.

Replies (1)

Form 406 is a declaration by the Contractor (Principal) that he certify that the works contract awarded to him has been partly / fully executed through his agent mentioned, who is also a registered dealer and the details about contract amount and WCT TDS are required to be mentioned.

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