Works Contract Tax
This query is : Resolved
Himanshu Girotra
(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
Himanshu Girotra
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.
Himanshu Girotra
(Querist)
07 March 2010
Mr Sharma
Thanks for your Reply ,
HImanshu Girotra
AGM- Finance
Tata Motors Ltd
Lucknow Works
Thanks for your Reply ,
HImanshu Girotra
AGM- Finance
Tata Motors Ltd
Lucknow Works
Vishnu Saboo
(Expert)
10 March 2010
at the time of payment as per GVAT act.
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