work contract tax,
This query is : Resolved
CA Manoj kumar
(Querist)
16 June 2008
1,What is wct, My company has logistics business, can you give details that in my company wct applied or not . if applied then what rate.and also tail that on this tds applied or not.
Satish K Sekhar.ACCA
(Expert)
16 June 2008
Works contract Tax is charged on any contract where transfer of goods not in the same form involved and not being a service contract. This is charged under state sales Tax regime now replaced as VAT and mainly applicable to civil construction contractors , real estate companies, electrical contractors and fabrication contractors etc.
WCT is not applicable to your company. There is TDS provision introduced by many state governments under WCT.
WCT is not applicable to your company. There is TDS provision introduced by many state governments under WCT.
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