Taxable turnover deduction clarified: pre-agreement material and labour costs must be excluded when computing sale value. Clarifies that for determining taxable turnover under clause (i) of sub rule (7) of rule 25 of the Haryana VAT Rules, 2003, the cost of materials and other labour/services and like charges incurred in executing a works contract before entering into the agreement with the intended purchaser shall be reduced from the total value of the agreement.
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Provisions expressly mentioned in the judgment/order text.
Taxable turnover deduction clarified: pre-agreement material and labour costs must be excluded when computing sale value.
Clarifies that for determining taxable turnover under clause (i) of sub rule (7) of rule 25 of the Haryana VAT Rules, 2003, the cost of materials and other labour/services and like charges incurred in executing a works contract before entering into the agreement with the intended purchaser shall be reduced from the total value of the agreement.
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