09 June 2011
We receive one invoice from the party appointed by us for constructing office building. We have been authorised by approving authority to deduct T.D.S & W.C.T @ 2% on the invoice.
The query is whether 2% W.C.T should be deducted on either on Net invoice value (i.e. including 5% V.A.T and Service Tax) or on the Total invoice value (i.e. including 5% V.A.T and excluding Service Tax)?
CAclubindia
