15 October 2013
Hello all, I am little confuse about wct deduction. is anybody there who can help me? I have to raise to bill to our contactee under works contract. and confusion is that we have to deposit wct on behalf of contactee they have been paid full amount to us inclusive all taxes. I have to raise rs. 600000 invoice which includes service and wct as well. Should i calculate wct4.2% on contract value+ service tax included or only on contract value. because if contractee would deduct wct, it would be on total value included service tax. than make a payment.
Guest
Guest
(Expert)
16 October 2013
For that you have to tell me in which state you are paying works contract tax under VAT? Liability differs from one state to other.
CAclubindia
