presentation of WCT on Billing done by contractor
This query is : Resolved
Rajkumar Hudati
(Querist)
01 November 2007
Hi all,
How Works Contract Tax will appear in the bill of Works Contractor with respect to different provision of VAT Act and also subject to different practical situation?
Plz clear the concept with example, if possible.
How Works Contract Tax will appear in the bill of Works Contractor with respect to different provision of VAT Act and also subject to different practical situation?
Plz clear the concept with example, if possible.
02 November 2007
WCT tax is a tax which is to not mentioned on the bill, it is a tax that is to be deducted and paid by the payer where the payment t othe contractor exceeds 5 laksh in a FY net of taxes.
It is 4% in case of URD ( Unregistered Dealer)and 2% in case of RD ( Registered Dealer
It is 4% in case of URD ( Unregistered Dealer)and 2% in case of RD ( Registered Dealer
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
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Reward for festival
- 18% Rent a cab
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Rectification under processing even after 6 months cpc portal
- RCM and same line
- Capital gain on commercial property and investment in residential property
- Rent agreement of House of deceased person
- Appointment of Auditor By Form ADT-1
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
