Vat rate under composite scheme as per karnataka vat

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Chartered Accountant
44 Points Joined February 2010

As per Karnataka VAT rules, what is the proportion of VAT & Service tax in a composite scheme of work contract. Is it

1. VAT on 100% value of work executed

2. VAT on 75% value of work executed

3. No liability of VAT on service receiver, Amount of VAT to be borne by service provider.

Please guide.

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On 18 October 2012 at 13:34 Report
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Article Trainee
44 Points Joined August 2011

as per karnataka VAT act, you have to pay VAT on 75/% of Bill amount and Service tax on 40% of bill amount. in service tax case, reverse charge is applicable, service provider has to pay 50% of total service tax and service receiver has to pay 50%..

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On 28 August 2013 at 14:36


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