Works contact
This query is : Resolved
16 February 2014
Hi,
we have received a contract from a party for laying and cabling work... all the material will be provided by the party except some items like brick, sand, cement etc and this material will be provided by us...in this case.... whether WB WCT tax will apply here... if yes then what will be the billing structure ? suppose my basic amount is 100 how we will calculate tax ?? please suggest....
thank you.
17 February 2014
As per Section 2(57) of the WBVAT Act the contract awarded is a works contract and accordingly vat provisions relating to works contract would apply. There are different methods of levying tax prescribed in Section 18 of the WBVAT Act depending on whether separate accounts are maintianed for materials and labour as well as composition scheme. You may refer to the said Section for ascertaining your tax liability.
Message likes :
1 times
17 February 2014
As per Section 2(57) of the WBVAT Act the contract awarded is a works contract and accordingly vat provisions relating to works contract would apply. There are different methods of levying tax prescribed in Section 18 of the WBVAT Act depending on whether separate accounts are maintianed for materials and labour as well as composition scheme. You may refer to the said Section for ascertaining your tax liability.
17 February 2014
As per Section 2(57) of the WBVAT Act the contract awarded is a works contract and accordingly vat provisions relating to works contract would apply. There are different methods of levying tax prescribed in Section 18 of the WBVAT Act depending on whether separate accounts are maintianed for materials and labour as well as composition scheme. You may refer to the said Section for ascertaining your tax liability.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- TDS Challan Code
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
