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TMI BlogComposition SchemeX X X X Extracts X X X X X X X X Extracts X X X X ..... Eligible class or classes of dealers Composition Amount Conditions (1) (2) (3) Every registered dealer engaged exclusively in works contract of the nature of civil construction i.e. construction, electrification, fitting out, improvement or repair of any building or complex, residential or commercial bridge, fly-over, dam or other similar structure of any canal or such other similar activities as may be specified by the Commissioner from time to time. (i) Three percent of the entire turnover if the dealer opting to pay tax under this scheme makes all the purchases and the sales during the period for which composition is opted within Delhi only. (ii) Four percent of the entire turnover on account of works contract executed in Delhi if the dealer is engaged in procuring goods from any place outside Delhi or in supplying goods to any place outside Delhi. (1) The dealer shall - (a) not be eligible for making purchases, within Delhi, from a person who is not registered under the Act except in the case of goods specified in the First Schedule; (b) not be eligible to claim tax credit under section 9, 14 and 15 of the Act; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r opts to pay tax under this scheme, where such stock has been purchased within Delhi or purchased on the strength the registration certificate or declaration Forms or certificates in the course of interstate trade. (b) The dealer shall reverse the input tax credit claimed on the capital goods during the three years immediately preceding the first day with effect from which the dealer opts to pay tax under this scheme. (c) The dealer shall furnish, alongwith his application for opting the scheme, the details of such opening stock and such capital goods, as mentioned in (a) and (b) above, in Form SS 01 appended to this notification and the proof of payment of tax in DVAT 20. (6) A dealer who has opted for this scheme can reverse his option only from the 1 st day of the following year by filing an application in Form WC 02 appended to this notification within a period of thirty days from the first day of the following year. (7) The dealer dealing in works contracts other than private works contracts shall make an application to the contractee authorising him to deduct tax at the applicable rate of composition amount (i.e. three per cent or four per cent, as t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder sub section (12) of section 16 during the year 2005-06 1. Registration No. Ward No. 2. Full Name of Applicant Dealer 3. Address of the Dealer 4. Year with effect from which composition scheme is sought* ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Designation ______________________________________________ Place Date Day Month Year Form WC 01 [See Notification under section 16(12)] PART-B Details of the stock held on the first day [i.e. on (date)] of the period for which the composition is sought (i) Details of Trading Stock Rate wise details of the Trading Stock Purchase Value (Rs.) Fair Market Value*(Rs.) Tax Payable (Rs.) A Goods taxable at 1% B Goods taxable at 4% C Goods taxable at 12.5% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in form 7(iii) (*Opening day of the period for which is being opted) (iv). Details of Finished Goods Rate wise details of the Packaging Material Purchase Value (Rs.) Fair Market Value*(Rs.) Tax Payable (Rs.) A Goods taxable at 1% B Goods taxable at 4% C Goods taxable at 12.5% D Goods taxable at 20% E Total (Carry to main form 7(iv) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ward No. 2. Full Name of Applicant Dealer 3. Address of Dealer 4. Year in which withdrawal from composition scheme is sought* - * hereinafter referred to as "current year" 5 . Tu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Goods taxable at 4% C Goods taxable at 12.5% D Goods taxable at 20% E Total (Carry to main form 7(i) (*Opening day of the period for which is being opted) (ii) Details of Raw Material Rate wise details of the Raw Material Purchase Value (Rs.) Fair Market Value*(Rs.) Tax Payable (Rs.) A Goods taxable at 1% B Goods taxable at 4% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... E Total (Carry to main form 7(iv) (*Opening day of the period for which is being opted) Name and signature of applicant/authorized signatory V . Verification I/We ________________________________ hereby solemnly affirm and declare that the information given hereinabove is true and correct to the best of my/our knowledge and belief and nothing has been concealed therefrom. Signature of Authorised Signatory ______________________________________________ Full Name ( first name, middle, surname )_____________________________________________ Designation ______________________________________________ Place Date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t Total Amount of Payments made to the sub contractor during the period from ……….to…..… Balance value of the sub contract Last date for completion of sub contract, if any (1) (2) (3) (5) (6) (7) Total Further certify that I have deposited the due tax to the govt. treasury in respect of the amount mentioned in column 5 above. Further undertake I shall deposit the due tax to the govt. treasury in respect of the amount mentioned in column 5 above Name and signature of applicant/authorized signatory Verification I/We ________________________________ hereby solemnly affirm and declare that the information given hereinabove is true and correct to the best of my/our knowledge and belief and nothing has been concealed therefrom. Signature of Authorised Signatory ______________________________________________ Full Name ( first name, m ..... X X X X Extracts X X X X X X X X Extracts X X X X
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