hello to everyone,
i want to know the rate of tax to be charged and deposit to the govt under different schemes, if available to the assessee, he is dealing in up, delhi and haryana. he works on civil contractor.
please tell the rate and under all vat act, is assessee liable to register???
please reply.. thanks
gurpreet singh
Understanding Tax Rates for Civil Contractors: Service Tax, Works Contract Tax & VAT Explained A query was raised regarding the applicable tax rates for a civil contractor operating in Uttar Pradesh, Delhi, and Haryana. The response highlighted the complexity of tax on works contracts, including Service Tax and Works Contract Tax (WCT). In Haryana, a 5% Standard Deduction Tax Scheme (STDS) applies to the contract's total value. The Delhi VAT Act outlines two valuation options based on the ability to bifurcate costs. Tax Deducted at Source (TDS) is applicable at 2% for contracts above Rs 20,000, with specific exemptions and obligations. The response also detailed the computation of taxable turnover and VAT under different scenarios. (AI Summary)
TaxTMI 
TaxTMI 
