A Company has entered into contract with a builder for their new factory. The major raw material was supplied by the company. the contract has now crossed 2 years and is in stage of completion. Payments to the contractor was made as certified by architects on running bill. Since the contractor agreed to give form S no sales tax TDS was recovered. But the contractor has not given form S and now says he cannot give form S. The final bill is pending for payment. What is the liability of the company. How much to recover and pay now.
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Sales tax tds
Replies (2)
Deduct the amount of tax payable and pay the net amount.... ask the party to give form S else forget about the rest amount...Regards
May I Please know what is Sales Tax TDS and its applicability
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