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Works Contract Tax

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(Querist)
06 March 2010 Please share your views that whether the Works Contract Tax is to be deducted at the time of Making Provision in the books of accounts or at the time of actual payment made to a service provider.

Himanshu Girotra
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CA Umesh Sharma

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CA Umesh Sharma (Expert)
07 March 2010 As per Section 31 of MVAT Act, it shall be deducted on payment or credit which ever is earlier.
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Himanshu Girotra

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Himanshu Girotra (Querist)
07 March 2010 Mr Sharma
Thanks for your Reply ,

HImanshu Girotra
AGM- Finance
Tata Motors Ltd
Lucknow Works



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Vishnu Saboo

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Vishnu Saboo (Expert)
10 March 2010 at the time of payment as per GVAT act.

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