Menu
works contract
One of my client has undertaken contract from local authority for laying down sewerage pipilines and taken the payment in three instalements on certification basis after deducting vat and tds.Please guide me as the only one contract undertaken dring the year and also being below RS 5 Lacs is he liable to VAT ,and now VAT being already deducted be refunded and how.
Replies (1)
The basic exemption limits under VAT varies from State to State but is generally Rs 10 lakhs in many States. However many States have fixed this limit for general trading and manufcaturing segments and for taxable turnover covered by works contract transacations, separate limits have been prescribed in certain States which are normally lower than the basic exemption limits. You will have to check this out from relevent VAT law.
Recent Threads
- UNCLAIMED TDS REFUND QUERY
- Rcm payable which head
- Query of GST
- Long Term Capitalgains on sale of residential prop
- How Salaried Individuals Can Reduce Capital Gains
- NSTPI registration
- GST PAID IN DELHI
- How to Trade Forex in India?
- TDS - requirement of TDS by individual under presu
- Normal Register in GST in delhi in gujarat no rece
Related Threads
CAclubindia
