Whether work contract tax is applicable on inertstate purcha
This query is : Resolved
SIDDAROODHA HIREMATH
(Querist)
24 August 2011
RESPECTED SIR..
WHETHER THE WORK CONTRACT TAX (KARNATAKA) IS APPLICABLE FOR INTERSTATE TRANSACTIONS.
i.e. PARTY IS PURCHASING THE MATERILS FROM THE MAHARASHTRA & MAKING THE WORKS IN KARNATAKA. IN THIS CASE WCT IS APPLICABLE OR NOT ..
MOST URGENT PLS REPLY IMMEDIATELY..
S B HIRENMATH
AUDIT ASSISTANT
MATHAPATI & CO
CHARTERED ACCOUNTANTS
BELGAUM
WHETHER THE WORK CONTRACT TAX (KARNATAKA) IS APPLICABLE FOR INTERSTATE TRANSACTIONS.
i.e. PARTY IS PURCHASING THE MATERILS FROM THE MAHARASHTRA & MAKING THE WORKS IN KARNATAKA. IN THIS CASE WCT IS APPLICABLE OR NOT ..
MOST URGENT PLS REPLY IMMEDIATELY..
S B HIRENMATH
AUDIT ASSISTANT
MATHAPATI & CO
CHARTERED ACCOUNTANTS
BELGAUM
Guest
Guest
(Expert)
24 August 2011
yes its applicable. They have to pay local VAT on the goods tranferred in the project. They cannot opt for composition scheme as they are purchasing materials from other states.
CMA Ramesh Krishnan
(Expert)
24 August 2011
Under CST no works contract concept, either need to pay CST or VAT as replied by the expert. WCT coming under local vat act
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