https://www.taxtmi.com/acts?id=2971 Taxable turnover for works contracts equals total contractual consideration but excludes charges for labour, services and other like charges and, in civil works, the cost of land subject to records. Joint development agreements value the contractor's supply by the highest of contractor book value of construction transferred, conveyance-stated value reduced by contractor payments, or notified circle rate reduced by such payments. Presumptive percentages apply where charges are unascertainable, and specific apportionment and timing rules apply for builders and intended purchasers, including tax on receipt of consideration and entitlement to input tax credit when output tax becomes payable. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 26 Sep 2013 12:13:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=2971 Taxable turnover for works contracts equals total contractual consideration but excludes charges for labour, services and other like charges and, in civil works, the cost of land subject to records. Joint development agreements value the contractor's supply by the highest of contractor book value of construction transferred, conveyance-stated value reduced by contractor payments, or notified circle rate reduced by such payments. Presumptive percentages apply where charges are unascertainable, and specific apportionment and timing rules apply for builders and intended purchasers, including tax on receipt of consideration and entitlement to input tax credit when output tax becomes payable. Act-Rules VAT - Delhi Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=2971