TaxTMI 
TaxTMI 
As per one of the option (Maharashtra VAT), pricipal contractor deposit VAT,down the line sub contrctors are not liable to pay VAT, let us know periodicity of issuing forms whether half yearly or yearly with reference to Sections thanks Mukund M Honkan
Form 406 & 407
28 Jan 2012 
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Principal contractor VAT liability under Maharashtra VAT clarifies subcontractor non-liability and questions frequency of issuing Forms 406 and 407.
Whether under Maharashtra VAT the principal contractor's deposit of VAT renders downstream subcontractors not liable is the central issue, with focus on the requirement and frequency for issuing Form 406 and Form 407, and whether those forms must be furnished half-yearly or yearly. (AI Summary)
Whether under Maharashtra VAT the principal contractor's deposit of VAT renders downstream subcontractors not liable is the central issue, with focus on the requirement and frequency for issuing Form 406 and Form 407, and whether those forms must be furnished half-yearly or yearly. (AI Summary)