https://www.taxtmi.com/article/detailed?id=2068 The Delhi VAT composition scheme for works contracts, effective 1 April 2013, establishes two schemes: Scheme A bars inter State procurement and sales (with limited exceptions for plant and machinery) while Scheme B permits inter State purchases or imports solely for use in Delhi works contracts on prescribed forms. Composition dealers cannot claim input tax credit, cannot issue tax invoices or collect tax, must maintain specified records, and face monthly payment and quarterly reporting obligations. Special rules address TDS by contractees, exclusion of contractee supplied goods from tax where ownership remains with the contractee, treatment of capital asset sales, and issuance of certificates for registered sub contractors. en-us Wed, 06 Mar 2013 10:27:06 +0530 Wed, 06 Mar 2013 10:27:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=2068 The Delhi VAT composition scheme for works contracts, effective 1 April 2013, establishes two schemes: Scheme A bars inter State procurement and sales (with limited exceptions for plant and machinery) while Scheme B permits inter State purchases or imports solely for use in Delhi works contracts on prescribed forms. Composition dealers cannot claim input tax credit, cannot issue tax invoices or collect tax, must maintain specified records, and face monthly payment and quarterly reporting obligations. Special rules address TDS by contractees, exclusion of contractee supplied goods from tax where ownership remains with the contractee, treatment of capital asset sales, and issuance of certificates for registered sub contractors. Articles Value Added Tax - VAT and CST Wed, 06 Mar 2013 10:27:06 +0530 https://www.taxtmi.com/article/detailed?id=2068