2009 Tax Rate under MVAT WCT
This query is : Resolved
Yajuvendra Rawat
(Querist)
15 December 2009
Dear Friends,
I want to know the rate of WCT prevailing for the year 2009 under MVAT Act. Please suggest a good author for Sales Tax Book also.
Thank You Friends,
I want to know the rate of WCT prevailing for the year 2009 under MVAT Act. Please suggest a good author for Sales Tax Book also.
Thank You Friends,
Ghanshyam T Jha
(Expert)
16 December 2009
I assume that you are concern to WCT means TDS under MVAT. if it is so than it is as under:
If you have awarded a contract to contractor who is regd. under MVAT that you should deduct @ 2% on Basic Value(Excluding Tax components) and if contractor is un regd. than deduct @4% on basic value
No deed to deduct WCT(TDS)if contract is not more than 5 lacs.
If you have awarded a contract to contractor who is regd. under MVAT that you should deduct @ 2% on Basic Value(Excluding Tax components) and if contractor is un regd. than deduct @4% on basic value
No deed to deduct WCT(TDS)if contract is not more than 5 lacs.
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