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 Topics :
- Capital gains on sale of flat from wife to husband
- TDS filing for the 1st quarter of TY 2026-27
- Login into Old Traces Portal
- Professional Income reporting in ITR-3
- Pf exemption in hand of spouse on demised of husba
- Missed deadline to revise ITR for a foreign asset
- Durga Puja 2026 Dates: Mahalaya, Shashthi to Vijay
- Indo-MIM IPO Allotment Date, Status Check and List
- GSTR 1 filed but GSTR 3 B no filed
- ITR FORM FILING REGARDS
Related Topics :
CAclubindia
