Wct
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 April 2013
the company i am working for is a construction company in the field of infrastructure, power & road sector.
i want information on Work Contract Tax.
if the company is raising bills on WCT composite scheme basis, will it be liable to pay both VAT and service tax i.e. VAT % + 2/4.12/4.95% ST separately or WCT includes both VAT & ST. if the client deducted WCT @ 4% and issued WCT TDS certificate in form 501 A in FY-2009-10 is the company liable to pay service tax separately apart from WCT deducted.
thanks in advance.
i want information on Work Contract Tax.
if the company is raising bills on WCT composite scheme basis, will it be liable to pay both VAT and service tax i.e. VAT % + 2/4.12/4.95% ST separately or WCT includes both VAT & ST. if the client deducted WCT @ 4% and issued WCT TDS certificate in form 501 A in FY-2009-10 is the company liable to pay service tax separately apart from WCT deducted.
thanks in advance.
Deepak Birla
(Expert)
20 April 2013
On Works contract services service tax is payable according to Rule 2A of ST determination of Valuation rules.
05 June 2013
You have to pay VAT as well as ST. If you are mentioning the material separately then on the amount of material it is VAT and for labor it is ST. If you raising the bill without mentioning for material even then it is done on % basis.
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