WCT
This query is : Resolved
04 March 2010
Please can anybody tell me under which circumstances Work Contract Tax will be applicable?
04 March 2010
Under Maharashtra Value Added Tax Act,2002 WCT-TDS is applicable when Works contract amount is 5 lakhs or more in a year.It is deductiable on advance or credit which ever is earlier. Please refer section 30 and Notification No. VAT-1505/CR-123/Taxation-1 dated 1-4-2005.
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