AP VAT
This query is : Resolved
P.Anil Prasanth
(Querist)
28 January 2011
Dear All,
Need help on WCT
When advance has been paid to a Contractor under a Works Contract whether WCT is deductible on that advance amount or it has to be made on the subsequent progessive payments???
Reply needed urgently.....
Need help on WCT
When advance has been paid to a Contractor under a Works Contract whether WCT is deductible on that advance amount or it has to be made on the subsequent progessive payments???
Reply needed urgently.....
Sunil Arora Advocate
(Expert)
03 February 2011
Advance is for the Contract and it will be adjusted against future Payments. So As per me WCT is required to be deducted on Advance
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