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TMI BlogInput Credit in case of Works ContractX X X X Extracts X X X X X X X X Extracts X X X X ..... Input Credit in case of Works Contract X X X X Extracts X X X X X X X X Extracts X X X X ..... ne client who is doing Civil contract works , Following is the discription of his works:- 1. Civil Works with material 2. Paying Tax on @ 5% on Invoice Value 3. Take Full Input Credit of Goods Purc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hased From Register Delar Now My Querstion is :- 1. Can he take input credit 2. any notification is there for composit contract Kindly help me with ur valuable reply and comment on the same Than ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ks & Regards saurabh Singh 09773679465 Reply By MANDAVILLI RAMAKRISHNA: The Reply: from which state you are asking this question? your question is also not clear. he can not take ITC if he opts t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o pay at 5% i.e., compositon rate. he can take ITC in case of non composition ie., he has to be pay tax at 14.5% after setting off ITC.as the works contract turnover does not fall in any schedule. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in andhra pradesh, 90% of input eligible to be claimed for set off.
composition to be opted in a month time of receiving work order
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