Back to back sub-contracting- No VAT leviable on profit element of main contractor

3 comments Sunday, September 20, 2015
In the construction and real estate industry it is common practice for the Contractors to sub contract the whole of the contract for execution on back to back basis. While sub-contracting on back to back basis the main contractor retains its profit element from the total consideration received from the contractee. In such case the question which arises whether such profit element is subject to any tax under VAT.
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Judgement in writ petitions challenging section 62(5) of PVAT Act reserved by High Court

1 comments Thursday, September 10, 2015
Earlier I had shared with my readers that I had filed writ petitions along with other similar petitions challenging the Constitutional validity of section 62(5) of Punjab VAT Act, 2005 before Punjab & Haryana High Court.

The arguments in all such writ petitions have been finally concluded and the judgement has been reserved by the Hon'ble Punjab and Haryana High Court on 09.09.2015. 

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