Sir
One of my client dealing in installation in air condition work he doing trading work (direct sale of airconditioning ) and work contract services. now i have two quries.
1) In case if we take annual maintaince contact of air conditiong we have to charge vat on 75% and service tax on 70% so in this case what accounting extry will be passed.
2) what is the procedure of assesment under work contact of a delaer.
Understanding VAT on 75% and Service Tax on 70% for AC Maintenance Contracts Under VAT and CST Rules A user inquired about tax implications and accounting entries related to air conditioning installation and maintenance services. The first query involves how to account for VAT on 75% and service tax on 70% for annual maintenance contracts. The second query seeks guidance on the assessment procedure for a dealer under a work contract. The discussion is focused on understanding the correct tax treatment and accounting practices for these services within the framework of VAT and CST regulations. (AI Summary)
TaxTMI 
TaxTMI 
