Billing under composition scheme in karnataka
AMIT KUMAR SHARMA
(Querist) 28 October 2015
This query is : Resolved
Dear sir,
We have received a works contract in the state of Karnataka (government project) and we are choosing composition scheme. I need your help to short out my difficulties:
a) How the bill to be raised on customer. Suppose total contract price Rs. 100 and I opt composition scheme is it ok if I show consideration is Rs. 96 and tax on composition Rs.4 on bill?.
b) If I purchase some material within the stat, can I get deduction of this purchase at the time of calculating taxable turnover?
c) What is the rate of WE TDS deduction in the state of Karnataka and how can we get no deduction certificate/ lower deduction certificate for the same and what is the procedure?.
d) If the sub contractor opt composition scheme and the main contractor opt Regular scheme, can sub contractor deduction is not allowed?
e) Is in Karnataka any exemption for sales tax under the VAT act and entry tax for Government project?
Kindly help as soon as possible pls.
R.K Nanda
(Expert) 29 October 2015
consult local tax lawyer.
Rajendra K Goyal
(Expert) 29 October 2015
Commercial query, discuss with your tax consultant.
AMIT KUMAR SHARMA
(Querist) 29 October 2015
no one is dealing sales tax in karnatka at this site
krishna mohan
(Expert) 30 October 2015
On tax matter you need to be complying the applicable tax laws. You may consult the tax consultant to give you right advise. But your cost need to have taken into account all taxes you have been talking about and if so what is the issue now.
