Deduction of TDS and Vat Liability

[Jaimin Shah]

My Company is executing a civil job in State of AP (a project of constructing a building for a power project). The billing with my customer is on milestone basis (i.e. Billing is on % completion of building). How would the customer deduct TDS on my final billing. Further how to take care of VAT liability on selling point.

AI Summary

Clarification on TDS Deduction for Milestone-Based Billing and VAT Liability at Selling Point for AP Building Project A company involved in a building project in the State of AP inquires about the deduction of Tax Deducted at Source (TDS) on milestone-based billing and handling VAT liability at the selling point. The response clarifies that TDS should be deducted based on the amount credited or paid, as recorded in the customer's accounting books.