DVAT Return

[Asked by Guest]

Dear Expert,

I am filing return of DVTA and CST for a company which is covered under WCT 80:20 .Now in form 2A and 2B what amount I should show ie net 80 or 80 taxable and 20 exempt.

Eg. Total Contract value=100 now vat is payable on 80 ie 12.5% of 80 so in form 2B what amount i will show ie 80 or 80 taxable and 20 exempt ?

Thanks in Advance 

AI Summary

Contract valuation under DVAT WCT rebate: report net assessable value after abatement as the taxable base for VAT and WCT.
Apply the Schedule abatement for the WCT rebate and report the gross contract value less that abatement; the resulting net assessable or taxable value is the basis on which VAT and Works Contract Tax are computed and paid in the DVAT return.