Good Evening to All,
We are in Hotel Business, presently we using Composition Tax (Vat 120)........
But i want to know the Advantages & Disadvantages of Composition Tax....and also Vat 100
Can anybody help me.........
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Vat 100 & Vat 120
Replies (1)
Dear Vijay
If you register under VAT, your tax laibility comes down atleast by 40%. composition is expensive. for this you have to surrender your COT registration and apply afresh under VAT.
Hare Krishna
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