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Provisions of Works Contract Tax

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(Querist)
23 June 2009 Dear all,
would you tell me about WCT. how it is applicable and from when?
is it the replacement of Service Tax on Works Contract?
if an organisation does not take CENVAT Credit then what would he do in respect of WCT?

Reply.....
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Madhukar N Hiregange

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Madhukar N Hiregange (Expert)
23 June 2009 WCT is not a new tax.

A WCT is said toi exist when the transfer of property as well as services happen simultaneously.

Under local VAT laws - works contracts are treated differently and called WCT.
Under servic etax also works contracts are liable to the xtent of the labour or option to go for composition exists.
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