presentation of WCT on Billing done by contractor
This query is : Resolved
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
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- TDS on Consultancy- Non DTAA
- Rental income gst and it purpose
- EPF FULL & FINAL RULES IN 2026
- Experts need help
- Management System (IMS)
- Condonation . E-Verification of last year return .
- FTS Taxable under 115A
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
