What is the prevailing rate for WCT in MVAT?
Thanks in advance
2 Replies
Jitendra Jhanwar
(Officer)
(129 Points)
Replied 05 February 2011
Dear Abhijeet,
Following are the provisions relating to WCT in MVAT:-
1 Intimation to Dept. regarding works contract:- No Specific Provision
2 Liability to deduct the TDS:- If the contract value exceeds Rs. 5 Lacs.
3 Rate of WCT TDS:- Registerd Dealer : 2%; Un Registered Dealer: 4%
4 To be deposited within :- Return cum Challan in Form 405, within 21 days
5 TDS Certificate (Form):- Form 402
6 Certificate to be issued in days:- To be issued immediately, no period specified.
7 Statement of TDS deposited:- Annual return in Form 405 to be submitted within 3 months from end of the year.
Jitendra Jhanwar
shreeharipriya.nayak
(trainee)
(48 Points)
Replied 17 February 2011
<!--[if !supportEmptyParas]--> <!--[endif]-->
<!--[if !supportLists]-->1 <!--[endif]-->Intimation to Dept. regarding works contract:- No Specific Provision
<!--[if !supportLists]-->2 <!--[endif]-->Liability to deduct the TDS:- If the contract value exceeds Rs. 5 Lacs.
<!--[if !supportLists]-->3 <!--[endif____________________
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shrreharipriya nayak
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