https://www.taxtmi.com/notifications?id=115927 Taxable turnover for works contracts is the total consideration paid or payable but excludes charges for labour, services and similar charges and, in civil works, the cost of land, provided the dealer maintains adequate records. For joint development/collaboration contracts, the value of works for the landowner is the highest of actual construction value transferred, deed-stated land value reduced by consideration paid, or circle-rate based land value reduced by consideration paid; tax on such contracts is payable when goods are incorporated. Specified percentage deductions apply where charges are not ascertainable, and rules prescribe methods for determining land value, pro-rata apportionment, and corresponding input tax credit treatment. en-us Fri, 20 Sep 2013 00:00:00 +0530 Wed, 25 Sep 2013 11:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=115927 Taxable turnover for works contracts is the total consideration paid or payable but excludes charges for labour, services and similar charges and, in civil works, the cost of land, provided the dealer maintains adequate records. For joint development/collaboration contracts, the value of works for the landowner is the highest of actual construction value transferred, deed-stated land value reduced by consideration paid, or circle-rate based land value reduced by consideration paid; tax on such contracts is payable when goods are incorporated. Specified percentage deductions apply where charges are not ascertainable, and rules prescribe methods for determining land value, pro-rata apportionment, and corresponding input tax credit treatment. Notifications VAT - Delhi Fri, 20 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/notifications?id=115927