15 June 2015
WCT means Works Contract Tax. When property of goods transferred in execution of works contract with the help of labour and service components, it falls under the catagory of WCT. As per Clause (54) of Section 65B Service tax Rules “works contract” means a contract wherein transfer of property in goods involved in the execution of such contract is leviable to tax as sale of goods and such contract is for the purpose of carrying out construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation, alteration of any movable or immovable property or for carrying out any other similar activity or a part thereof in relation to such property.
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