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works contract tax

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(Querist)
29 June 2010 Is works contract tax paid available as credit????????????or is it to be treated as an expenditure????????
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
29 June 2010 If the work contract tax deducted and paid by your customer from your bills you can claim the same
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CA. O.P. Agarwalla

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CA. O.P. Agarwalla (Expert)
29 June 2010 I think the question is relating to ITC. If the contractor has not opted copmposition scheme and has issued tax invopices, ITC will be granted subject to other eligibility conditions.




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