Works contract
This query is : Resolved
05 January 2015
Debtor 82
Receipt 100
TDS 2
WCT TDS 2
Ser.Tax 4
Holding
Monery 10
I want to pay tax at abated rate on 40% of total amount. whether i should deduct WCT tds from total receipt to charge service tax.
Debtor 82
Receipt 100
TDS 2
WCT TDS 2
Ser.Tax 4
Holding
Monery 10
I want to pay tax at abated rate on 40% of total amount. whether i should deduct WCT tds from total receipt to charge service tax.
05 January 2015
No WCT tds not to be deducted from total receipt to charge service tax.
05 January 2015
Notification No. 24/2012 - Service Tax
Gross amount charged for the works contract shall not include value added tax or sales tax, as the case may be, paid or payable, if any, on transfer of property in goods involved in the execution of the said works contract.
WCT TDS is not included in gross value it is only deducted from gross value.
Gross amount charged for the works contract shall not include value added tax or sales tax, as the case may be, paid or payable, if any, on transfer of property in goods involved in the execution of the said works contract.
WCT TDS is not included in gross value it is only deducted from gross value.
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