WCT
This query is : Resolved
Viru Rawat
(Querist)
04 March 2010
Please can anybody tell me under which circumstances Work Contract Tax will be applicable?
CA Umesh Sharma
(Expert)
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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