Wct
This query is : Resolved
05 October 2014
we are manufacturer, we are sending components for nickel plating to vendor for job work. After processing he charged two bills against job work one is labour charges & second is material bill which are use in job work and charged vat 12.5% so please suggest should I deduct WCT and TDS if yes then on which amount should I deduct WCT & TDS & in books of account vat bill which account head shall Go labour or what else
CA R SEETHARAMAN
(Expert)
05 October 2014
Since VAT already paid on material no need to deduct WCT, exemption for this may be obtained by your vendor. TDS on labour portion may be done.
05 October 2014
Since he is charging. Two seperate bill, its best way to avoid wct , simply deduct TDs on labour, and book material as consumption.
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