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of <h1>Delhi VAT Rule 3: Taxable Turnover in Works Contracts Excludes Labor, Services, Land Costs; Specific Percentages Applied.</h1> The Delhi Value Added Tax Rules, 2005, under Rule 3, address the taxable turnover from works contracts. The taxable amount includes the total consideration paid to the dealer, excluding charges for labor, services, and land costs in civil works contracts, provided proper records are maintained. For civil works involving collaboration or joint development agreements, the value of the works contract is determined by the highest of the actual construction value, the value stated in the conveyance deed, or the circle rate. Specific percentages are applied to various contract types to calculate labor and service charges when not ascertainable from records. The rules also detail the determination of land costs and applicable tax periods.
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