PLEASE LET ME KNOW MAHARASHTRA VAT IS TO BE CHARGED ON THE GROSS VALUE OF THE CONTRACT INCLUDING SERVICE TAX OR EXCLUDING SERVICE TAX. vAT IS BEING CHARGED UNDER COMPOSITION SCHEME I.E THE FULL VALUE. sOME SERVICE PROVIDERS ARE CHARGING VAT ON THE VALUE EXCLUDINGTHE SERVICE TAX. PLEASE CLARIFY.
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Vat on composite works contract in maharashtra
Replies (1)
Your query is in relation to section 42(3) of MVAT Act, 2002.
VAT @ 8% is to be levied after deducting from the gross value, the amount payable towards sub contracting. It is to be levied excluding service tax.
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