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Composition Dealer, Value Added Tax - VAT-CST |
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Composition Dealer | ||
sir, My client a hotelier is paying Karnataka VAT under composition scheme. In the year 2011-12 & 12-23, entered a joint development agreement in a new venture to construct hotel rooms 50/50. On advances received, voluntarily paid tax @4%. Separate books maintained for Hotel and construction services. Option of selecting 4% composition on construction services is not intimated to VAT office. Officer reassessed the taxes @ 14.5% on construction advances?. My client is a eligible dealer for composition scheme but not submitted the option leads to higher rate of Tax?. Please advice. Posts / Replies Showing Replies 1 to 1 of 1 Records
sir, My client a hotelier is paying Karnataka VAT under composition scheme. In the year 2011-12 & 12-13, entered a joint development agreement in a new venture to construct hotel rooms 50/50. On advances received, voluntarily paid tax @4%. Separate books maintained for Hotel and construction services. Option of selecting 4% composition on construction services is not intimated to VAT office. Officer reassessed the taxes @ 14.5% on construction advances?. My client is a eligible dealer for composition scheme but not submitted the option leads to higher rate of Tax?. Please advice. 1 |
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