Provisions of Works Contract Tax
This query is : Resolved
23 June 2009
Dear all,
would you tell me about WCT. how it is applicable and from when?
is it the replacement of Service Tax on Works Contract?
if an organisation does not take CENVAT Credit then what would he do in respect of WCT?
Reply.....
would you tell me about WCT. how it is applicable and from when?
is it the replacement of Service Tax on Works Contract?
if an organisation does not take CENVAT Credit then what would he do in respect of WCT?
Reply.....
23 June 2009
WCT is not a new tax.
A WCT is said toi exist when the transfer of property as well as services happen simultaneously.
Under local VAT laws - works contracts are treated differently and called WCT.
Under servic etax also works contracts are liable to the xtent of the labour or option to go for composition exists.
A WCT is said toi exist when the transfer of property as well as services happen simultaneously.
Under local VAT laws - works contracts are treated differently and called WCT.
Under servic etax also works contracts are liable to the xtent of the labour or option to go for composition exists.
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