VAT & WCT ?
This query is : Resolved
14 October 2008
We got civil contract for Rs.623 Lakhs in MP.
My boss asked me the impact of VAT/WCT? How can We benefit from this?
I arraived material cost of 400 lakhs & Service Cost of 223Lakhs.
Here VAT tax applicable in case of Purchase. How WCT appIicable incase of Monthly Billing to Claint.Pl anybody help me how to go about it?
My boss asked me the impact of VAT/WCT? How can We benefit from this?
I arraived material cost of 400 lakhs & Service Cost of 223Lakhs.
Here VAT tax applicable in case of Purchase. How WCT appIicable incase of Monthly Billing to Claint.Pl anybody help me how to go about it?
14 October 2008
We got civil contract for Rs.623 Lakhs in MP.
My boss asked me the impact of VAT/WCT? How can We benefit from this?
I arraived material cost of 400 lakhs & Service Cost of 223Lakhs.
Here VAT tax applicable in case of Purchase. How WCT appIicable incase
of Monthly Billing to Claint.Pl anybody help me how to go about it?
My boss asked me the impact of VAT/WCT? How can We benefit from this?
I arraived material cost of 400 lakhs & Service Cost of 223Lakhs.
Here VAT tax applicable in case of Purchase. How WCT appIicable incase
of Monthly Billing to Claint.Pl anybody help me how to go about it?
15 October 2008
Your Contract Value = Rs.623 Lacs
Your Employer will deduct WCT =25 Lacs
Assume you will pay the VAT in local purchase of materials from MP @4% of 400 Lacs i.e 16 lacs
So , you will get refund of
WCT deducted - VAT Paid that will come approximately 9 lacs.
There is service tax aso in your case
Your Employer will deduct WCT =25 Lacs
Assume you will pay the VAT in local purchase of materials from MP @4% of 400 Lacs i.e 16 lacs
So , you will get refund of
WCT deducted - VAT Paid that will come approximately 9 lacs.
There is service tax aso in your case
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