29 May 2015
VAT TDS MEANS THE TDS DEDUCTED FOR THE LABOUR WORK.IT IS APPLICABLE TO THE WORKS CONTRACTOR WORK.EXAMPLE TO THE INDUSTRIES OR MANUFACTURING UNITS
11 July 2015
DEAR SOMSHEKAR VAT TDS MEANS THE WCT (WORK CONTRACT TAX). IT IS APPLICABLE ON SUCH TRANSACTION WHERE ASSESSEE CAN NOT IDENTIFY THE LABOUR AND MATERIAL PART IN SALES INVOICE EXAMPLE : CONTRACTOR FOR CONSTRUCTION OF BUILIDNG ETC. WHER YOU CAN NOT IDENTIFY THE WHAT AMT OF LABOUR AND MATERIAL USE TO COMPLETE RESPECTIVE UNITS .
IT IS APPLICABLE TO BE DEDUCTED WHEN TRANSACTION RESPECTIVE TO THAT ACTIVATY RS. 5LAKH OR ABOVE. WHICH CAN BE CLAIM AS INPUT UNDER VAT LIABILITY.
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