VAT & WCT ?
This query is : Resolved
vsns sharma
(Querist)
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?
vsns sharma
(Querist)
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?
CMA Jitendra Singh
(Expert)
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
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
- 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
