Hi. we are a Private Limited Company in Mumbai. We are Principal Contractors for one of the Toll road projects awarded by Madhya Pradesh Road Development Corporation (MPRDC). We have sub contracted the project to a Public Limited Company in Madhya Pradesh. Project is on BOT Basis and after completion of Toll collection, it will be handed over to the Government.
Kindly let me know if Works Contract Tax is Applicable to the Principal Contractor or the Sub Contractor.
Is a Private Limited Company is exempted from Works Contract Tax???
CAclubindia
