Applicability of W.C.T
This query is : Resolved
Suresh M.Moolya
(Querist)
09 June 2011
We receive one invoice from the party appointed by us for constructing office building. We have been authorised by approving authority to deduct T.D.S & W.C.T @ 2% on the invoice.
The query is whether 2% W.C.T should be deducted on either on Net invoice value (i.e. including 5% V.A.T and Service Tax) or on the Total invoice value (i.e. including 5% V.A.T and excluding Service Tax)?
Please Clarify.
The query is whether 2% W.C.T should be deducted on either on Net invoice value (i.e. including 5% V.A.T and Service Tax) or on the Total invoice value (i.e. including 5% V.A.T and excluding Service Tax)?
Please Clarify.
CA MANOJ GUPTA
(Expert)
09 June 2011
SERVICE TAX IS TO BE EXCLUDED ONLY IF TAX IS DEDUTED UNDER SECTION 194-I
IN ALL OTHER CASES IT SHLD BE ON ENTIRE AMOUNT
CA MANOJ GUPTA
JODHPUR
09828510543
IN ALL OTHER CASES IT SHLD BE ON ENTIRE AMOUNT
CA MANOJ GUPTA
JODHPUR
09828510543
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