Suppose total value, of goods taxable@4% from all sources is rupees 6,00,000.00. Out of this value, value of goods on which exemption is to be claimed as inter-state sale, sale outside the State and sale in the course of import into India is Rs.1,00,000.00. Then in the field agaist tax rate of 4, entry should be made 5,00,000.00.
Suppose total value, of goods taxable@13.5% from all sources is rupees 10,00,000.00. Out of this value, value of goods on which exemption is to be claimed as inter-state sale, sale outside the State and in the course of import into India is Rs.2,00,000.00. Then in the field agaist tax rate 13.5, entry should be made 8,00,000.00.
Enter VAT rates applicable in your State always in increasing order. Rate will inlude rate of additional Tax. Example: 1, 4, 5, 13.5, etc. Use as many fields as are required. Leave remaining fields blank. Do not enter % or percent.
In first field, value of those goods, which have been purchased or received from outside the State but from within India and used in the works and in relation to which exemption is to be claimed, in second field value of goods purchased & incorporated in works executed outside the State, in third field, value of goods imported from outside india and incorporated in the works in relation to which exemption is to be claimed, will be entered.
Goods, values of which are to be taken, are the goods which have been incorporated in the works during the period of return i.e. the goods in which property has been transferred during the period of return. These goods may be goods procured during the period or before the start of the period of return. Purchase value including expenses incurred in bringing them to the work site are to be taken.
Receivable amount is the amount which has become due in respect of works contract (part or whole) executed during the period of return irrespective of payment received. Whether payment has been received or will be received in future is immaterial.