Wct works contract
This query is : Resolved
19 October 2013
Hello all,
IN HARYANA STATE, WCT@4.2% charged but i have some confusion abt gross amount on which wct is charged. It would be:-
contract value+service tax=gross value or;
only contract value(excluding service tax)
please help me its ugrent.
IN HARYANA STATE, WCT@4.2% charged but i have some confusion abt gross amount on which wct is charged. It would be:-
contract value+service tax=gross value or;
only contract value(excluding service tax)
please help me its ugrent.
CA Mohit Bansal
(Expert)
19 October 2013
WCT would be on the gross value.
MJ Krishnamurthy
(Expert)
19 October 2013
WCT has to be charged on the gross value if one has opted for composition of tax. If on regular scheme,labour charges has to be reduced from gross value and vat charged on the material consume at their respective rates,after adding profit...mjk
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