My query is regarding on what value WCT is to be deducted:-
1. Material 100 2. Labour(service portion) 50 3. Vat 10 4. Service tax 10 ---- 170 ---- if work contract is under (a) normal scheme (b) composition scheme.
16 February 2012
To add to your query my query pls. differentiate WCT from VAT and Service tax. What is the legal basis of WCT. I think it is same as VAT but used in popular sense as WCT. Pls. correct if I am wrong.
If VAT & Service tax has already been levied. Then how levy of WCT arises.
CAclubindia
