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

0 votes
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.