Work Contract Tax

Page no : 4

Syed Shanawaz (bussiness) (22 Points)
Replied 31 July 2008

Dear Sir,

Iam the Fabrication and erection contractor of industrial heavy equipment manufacturer of Iron & Steel (like Storage Tanks, Structures, Trusus for Sheds etc) and my firm is excisable Unit in Tamil nadu

I got an enquiry from one of my client,their going to Install the new steel plant in Andhra Pradesh for that they asked us to do job work at our works (raw materials is client scope) for the fabrication of trusus work for their shed of their new plant.

I have doubt that what is the procedure to raising the bill if the they taken cenvate credit and also I want to know that if their not Interested to taken cenvate credit means how to bill them.

At the same time ,we have another doubt how to receive the raw materials from the client’s Supplier they want to attach any challan to send the materials to at our works.

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(Guest)

we have an order for supply of material and a separate order for installation and commissioning.

does the installation and commissioning attracts WCT in karnataka

if so what is the rate at which wct is appicable..

thanks

(Guest)

how to calculate TDS and exmples also need with tally tipe

(Guest)

Originally posted by :M Janak Rao
"	?what is the limition of Composition scheme in Assam against work contract tax. ? What is the benfit of Composition scheme of WCT ? Why govt is issue road permit against composition Scheme under work contract ? as per our calcullation Govt. Loss 8% Revenue in machinery purchase as per work contract	"

Arun (Sr. Accounts Officer) (24 Points)
Replied 09 August 2008

Sir,

I want to know the base amt of WCT :- as book says on contract value we have to deduct the WCT...but my question is that if supplier is showing the Ser Tax extra in his Bill then in this case what would be base amt for WCT. Should we include the ser tax amt also or we have to exclude the Ser Tax amt and then calculate the WCT amt?

1 Like

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(Guest)

Originally posted by :Guest
"	Plese send information about works contract tax and also tell me that SERVICE TAX (Composition scheme) is applicable in Work contract Tax ? If, Yes, then Service Tax(Composition scheme) & VAT(12.5%) both are charged in SALE BILL, please advice	"

(Guest)

Originally posted by :Guest
"	Nature of business is Interior Job with materials and labour. Now, my question is VAT applicable on all the Invoice to be raise on works contract; if so what is the rate of VAT and Service Tax, on it ? Am I raise both VAT & Service Tax on an Invoice for Work contract ?	"

(Guest)

Originally posted by :Guest
"	TDS ( Income Tax ) is deducted on 31.03.2008 on Bill or payment whichever is earlier basis and Certificate for WCT is issued on May itself on actual payment made. is it possible to get the credit of WCT in May 08 ?	"

(Guest)

Originally posted by :Guest

I want to know about WCT & TDS RATE ON CONTRACTOR & SUB CONTRACTOR.
WHAT IS THE RATE OF TDS ?
WHAT IS THE RATE OF WCT ?
WHAT IS TURNOVER LIMIT ?

Whether there is any exemption of WCT for contracts like structural rechange?

(Guest)

Originally posted by :Guest
"	I want to know about WCT & TDS RATE ON CONTRACTOR & SUB CONTRACTOR. WHAT IS THE RATE OF TDS ? WHAT IS THE RATE OF WCT ? WHAT IS TURNOVER LIMIT ?	"

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(Guest)

Originally posted by :Guest
"	I want to know about WCT & TDS RATE ON CONTRACTOR & SUB CONTRACTOR. WHAT IS THE RATE OF TDS ? WHAT IS THE RATE OF WCT ? WHAT IS TURNOVER LIMIT ?	"

(Guest)

Originally posted by :Guest
"	I want to know about WCT & TDS RATE ON CONTRACTOR & SUB CONTRACTOR. WHAT IS THE RATE OF TDS ? WHAT IS THE RATE OF WCT ? WHAT IS TURNOVER LIMIT ?	"

manish kumar (C.A) (99 Points)
Replied 27 August 2008

Hi dear , i have question regarding work contract tax. what will rate of wtc in delhi and amonut of TDS levied on a contract.

1. Suppose there is a contractor who has to execute a contract of Rs 20L along with Rs 8 L of supllying mterial.

Please make me confirm of rate of tds and wtcon above contract.

(Guest)

Originally posted by :Guest
"	Plese send information about works contract tax	"

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R. L. SHARMA (Service) (25 Points)
Replied 08 September 2008

What is the time limit for arranging VAT Audit by the competent authority and what is the last date to submit the same to Commercial Tax Authority under UPVAT Act.

Thanks,

Ratan Lal Sharma