WCT on Comprehensive Maintenance Contract
This query is : Resolved
manisha kejriwal
(Querist)
10 July 2010
we have entered into a contract of Comprehensive annual maintenance of Machine with the suppliers. Should we deduct WCT on such contract?? plz give the details of the same
CA Umesh Sharma
(Expert)
10 July 2010
Dear,
As per MVAT Act, Section 31, And Notification Dt. 29-8-2005, WCT TDS is applicable on above contracts, if its above Rs.5.00 lakhs in a year. Rate of WCT is 2% for Registered Dealer (Supplier) and 4% for Un registered Dealer.
As per MVAT Act, Section 31, And Notification Dt. 29-8-2005, WCT TDS is applicable on above contracts, if its above Rs.5.00 lakhs in a year. Rate of WCT is 2% for Registered Dealer (Supplier) and 4% for Un registered Dealer.
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