Dear experts,
I am working in a pvt ltd company i have a doubt on VAT TDS
1. we have given works contract to one contractor for a Rs. 1crore so now we want to give 30 lacks advance to the contractor so now my question is am i deduct VAT TDS on advance amount ? as per my experience whenever the bill will raised by the contractor then only we have to deduct vat tds on earlier given advances is its right ?
2. If i deduct VAT TDS on raised bills then i have to give form 501A to the contractor but here my doubt is am i show this VAT TDS transaction in my companies monthly VAT return (Form 200) ? sir plz..........help me
Thank you,
ysd prasad
CAclubindia
