Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Calculation of vat & service tax under wct

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

29 August 2011 Dear Friends,

can anyone explain the procedure for calculating the VAT and Service Tax under Works Contract Tax. Please consider the value of work contract is Rs.1,00,000/-. My concern is whether the VAT Calculation @ 4% on sum of (100000+ 4.12% of 100000) or VAT @ 4% on 100000 and ST @ 4.12% on 100000. Which one is the correct procedure.
please help me

Thanks & Regards,

Suman M.

VISHRUT

VISHRUT (Expert)
Follow

29 August 2011 It will be liable under VAT only and hence require to chrage VAT @ 4% on same which will be Rs. 4,000/-

For further details follow the following article.

https://www.salestaxindia.com/htms/articles1.htm

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now