Vat and service tax
Querist :
Anonymous
(Querist) 20 August 2011
This query is : Open
We are engaged in the business of Ship repairing and supply of necessary spares parts In West Bengal . We are carry out refit work in accordance with the main and supplementary defect list remarked DO/Don’t by CGHQ along with amended remarks as per TEC minutes. The scope of work includes cleaning and painting of the Ship’ Hull , obtain ultrasonic readings , Engineering, electrical , and provide necessary facilities while the ship is in dry dock, provide accommodation and cooking facilities to the ship’s crew when the ship becomes uninhabitable .
For the purpose of carrying out the above works are paid total refit cost Say for example 1 Corer. Inclusive of taxes duties . further he is paid a maximum amount equal to 15 % of the refit cost ie. 15 Lac inclusive if taxes and duties for carrying any additional growth of work to correct operational defect. Further for non availability spares against NAC ( Non Availability Certificates ) is reimbursed the cost of such spares on actual plus 7.5 % as handling charges subject to maximum of 20 % of the total refit cost amounting to Rs. 20 Lacs. Inclusive of taxes and duties.
To complete the entire refit work within 120 days .
Query : i) Amount of Vat Payable in west Bengal
ii) Value of Taxable service for service tax
If any information or details we will let you know on your demand.
