NBT liable on advance payment received in a construction project like Vat liable ?

asked Oct 20, 2017 in NBT by anonymous
In a construction project VAT is chargeable on advance payment. On same advance payment Value of supply will be decided after adding NBT ? or NBT not liable for this kind of advance payment ? What is the practical application ?

1 Answer

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answered Oct 20, 2017 by anonymous
If you decide to collect NBT from customers, yes, then the VAT is calculated after adding NBT
commented Oct 20, 2017 by anonymous
Thanks a lot. This means even for advance payments (construction project) invoice also we can charge NBT & VAT both.
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