Works Contract Tax

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Querist : Anonymous (Querist)

18 June 2010 What is Works Contract Tax?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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18 June 2010 Works contract tax is a type of VAT, this applicable VAT for the dealrs doing works contract

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Shyam Lal Naik

Shyam Lal Naik (Expert)
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19 June 2010 WCT is a tax on transfer of property involved in excution of works contract.

For example, when a contractor undertakes to construct a building, materials like Bricks, cement, TMT Bar, stone chips, sand etc gets transfered to the contractee.

By a legal fiction, vide amendment to Art. 366 of the constitution, such transfer are treated as deemed sale, and States were given power to impose sales tax(now VAT) on such transfer.

It is a VAT, although popularly termed as WCT

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