VANDANA (MCOM II ICWAI INTER Working as an ACCOUNTANT BCOM 1ST CLASS) (491 Points)
26 December 2012Can we claim WCT Amount as a sett-off / Credit while calculating Our SALES TAX LIABILITY ????
Pl help us !!!! 1 of our client deducted WCT @ 2% Which is correct !!! now question is whether, Can we take the sett-off of this against payment of sales tax liability ?????????
PLEASE REPLY !!!!
Sonu Kumar
(Account Manager)
(665 Points)
Replied 26 December 2012
Yes... if any of Your Client Deducting Wct they will Issue C-II Certificate on Quarterly Basis and You can Claim it as a Input Credit.... it is Just Like TDS on Income.
Wct Rate is 4% in Bihar
Thanks
VANDANA
(MCOM II ICWAI INTER Working as an ACCOUNTANT BCOM 1ST CLASS)
(491 Points)
Replied 26 December 2012
| Originally posted by : Sonu Kumar | ||
 |
Yes... if any of Your Client Deducting Wct they will Issue C-II Certificate on Quarterly Basis and You can Claim it as a Input Credit.... it is Just Like TDS on Income. Wct Rate is 4% in Bihar Thanks |
 |
Thanks for the reply !!!!!!!
Yes our client has deducted WCT @ 2% In Maharashtra. Do You have any notification /Circular / Rule copy please.................. i'll need to send it to our Auditor !!! Please do help if you can provide !!!!!!!!!!!!!!!!!!! pl..
Sonu Kumar
(Account Manager)
(665 Points)
Replied 26 December 2012
It Should be Written on LOA Copy.... you May Produce it to Auditor
Thanks
CAclubindia
