sir ,
i would like to know the rule position whether Value Added Tax (VAT) is to be recovered for contingent billls like supply of shamianas for functions ,supply of sound systems,supply of furniture and water drumd etc.If so what is the percentage of VAT to be recovered from the bills.
VAT or Service Tax on Shamianas, Sound Systems, and Furniture? 14% VAT or 10.30% Service Tax Explained A user inquired about the applicability of Value Added Tax (VAT) on contingent bills for items like shamianas, sound systems, furniture, and water drums. One respondent clarified that VAT at 14% applies to deemed sales. Another respondent questioned whether the transaction involved the sale of materials or the provision of services. If it is a service, service tax at 10.30% would be applicable instead of VAT. (AI Summary)