https://www.taxtmi.com/forum/issue?id=4749 Works contracts for manufacture, processing or fabrication that transfer property in goods are taxable under DVAT; taxation relies on either book-ascertained bifurcation excluding specified labour and service charges or statutory percentage apportionment when bifurcation is not ascertainable. Turnover arises when consideration for transfer of property in goods is received or receivable in the tax period. Contractees (and contractors paying subcontractors) must deduct tax at source on payments attributable to transfer of property in goods, comply with certificate issuance and TAN registration, and retain records to substantiate valuations. en-us Mon, 24 Sep 2012 17:36:13 +0530 Thu, 23 Jan 2025 15:57:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=4749 Works contracts for manufacture, processing or fabrication that transfer property in goods are taxable under DVAT; taxation relies on either book-ascertained bifurcation excluding specified labour and service charges or statutory percentage apportionment when bifurcation is not ascertainable. Turnover arises when consideration for transfer of property in goods is received or receivable in the tax period. Contractees (and contractors paying subcontractors) must deduct tax at source on payments attributable to transfer of property in goods, comply with certificate issuance and TAN registration, and retain records to substantiate valuations. Discussion-Forum VAT / Sales Tax Mon, 24 Sep 2012 17:36:13 +0530 https://www.taxtmi.com/forum/issue?id=4749