rate of vat under composition scheme in delhi

[navin jain]

rate of vat under composition scheme in delhi

[Surender Gupta]

As per section 5 of the DVAT Act, 2004, in case of works contract, the value of labour, service and other like charges to be deducted from the gross value. Further, Rule 3 of DVAT Rules, 2005 prescribes the rates and manner of deduction of amount towards labour and service charges.

AI Summary

Deduction of labour and service charges allowed under composition scheme, with rates and manner prescribed by applicable rules.
For works contracts under the composition scheme the value of labour, service and similar charges is deductible from gross value for VAT under section 5 of the DVAT Act, 2004, and the rates and manner for those deductions are prescribed by Rule 3 of the DVAT Rules, 2005.