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works contract tax : Compound scheme
My client opted, after awarding the project, composit scheme (4% on T.O) by submitting Form 250. At the middle of the project (Total Duration of the project : 9 Months. 50% of work completed during the last 4 months), he is intending to change from composit scheme to regular schme (12.5% tax & input tax credit availing). Is it possible under the VAT act?
Replies (3)
You are advised to go throught the Composition scheme of your state. In Assam, no such swithover is permissible during the year.
in mVAT also there is no provision. in my view in tere is no such switching option avalable in vat
Dear,
In MP VAT(SEE SECTION 11) THERE IS NO PROVISION FOR SUCH SWITCHING.
REGARDS
SUNIL
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