In composition tax scheme i.e, as per Form Vat 120, Point No 4.3- Value of Goods purchased/ obtained from outside the state/country and transferred in the execution of works contract - is excluding vat amount or inclusive of vat amount,
For Ex:- Base Price Rs 100/- , Cst on purchases @ 12.5%- Rs 12.5 , So, total price is Rs 112.50/-
So Which amount should be taken in Point No 4.3 of Form Vat 120?
Varma Raja & Associates
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CA Inter
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Graduate (Any)
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CCI
Pro
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