Answers!
We know that
On Sale of goods,Vat is charged
and
On Providing Services,CST Is charged
However,there are certain tranactions which have element of both goods and services
Example
On Construction Services,Printing Services, both material and services are charged)
On these services,a component of both VATand service Tax is charged
This tax is called Work Contract tax
Comment
Answer the question...
We know that
On Sale of goods,Vat is charged
and
On Providing Services,CST Is charged
However,there are certain tranactions which have element of both goods and services
Example
On Construction Services,Printing Services, both material and services are charged)
On these services,a component of both VATand service Tax is charged
This tax is called Work Contract tax
Comment