TaxTMI 
TaxTMI 
Which Taxes are Applicable for Contracts pls suggest
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....hich Taxes are Applicable for Contracts pls suggest<br> Query (Issue) Started By: - Jatin Mistry Dated:- 18-4-2012 Last Reply Date:- 28-4-2012 Service Tax<br>Got 1 Reply<br>Service Tax<br>We are a Contractors & Fabricators of Aluminium & Steel - Windows/ Doors/ Partitions/ Ceiling/ Structural Glazing/ Cladding work etc. We Purchase a Material (i.e.: Aluminium/ Glass/ Plywood/ Hardware/ ACP, etc.)....
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.... from market & Also taking a service of Powder Coating / Anodizing on Aluminium or Steel from outside service providers & then we fabricates all of above & also do a installation (fixing) on site. Our work Criterial includes are as follows: MATERIAL: Material (eg.: Aluminium, Steel, Glass, Ply, ACP Panel, Hardware, etc.) POWDER COATING OR ANODIZING PROCESS: (done from outside processors) LABOU....
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....R: (To be paid to Labours for making & installation on site) TRANSPORTATION CHARGES: (Paid to Tempo/ Truck/ Taxi/ Transporter for delivering of material on site) OVERHEADS: (Rent paid for accomodation nr. site, Travelling Charges for Labours, Management, etc.) PROFIT: So while preparing an Tax Invoice Which Taxes are Applicable & How many Percentges. VAT/ CST/ ST/ WC VAT --- ? From Our Clie....
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....nts, 1 Client is a Building Contractor and they do a various projects for their clients. Recently we have received a Work order from them and they told us to charge a taxes as follows: on 67% of Total Bill Value - M VAT @ 12.5% on 33% of Total Bill Value - ST @ 12.36% will be applicable. Is it perfect or not acceptable .. ? Pls Suggest specially in our case. Thank you, Reply By Rahul Sharma:....
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.... The Reply: Jatin, your work comes under WCT( Work Contract Tax) you have to see your slabs as per my information it is 70% that means State Vat on 70% & STCC@ 12.36% on 33%. Both invoices are separate as taxes are of State & Center. Rahul<br> Discussion Forum - Knowledge Sharing ....