i want to confirm that one of my client is contractor not having the valid vat certificate at the time when the wct has been deducted while making payment to him under maharashtra vat act @ 2%.further the party liable to deduct wct withheld an additional amount of WCT @ 2% with interest for any future liability form Maharashtra Vat Givt. Now the contractor has got the valid vat certificate form the maharashtra vat deptt claiming his additional 2% wct with interest back from the party and has issued a indemnity bond saying that in case of any future liability form maharashtra vat govt, he will indemnify the same. Please advise, what should the party do...should he has to refund the amount or pay the withhold amount to the maharashtra govt."?
Menu
deduction of wct
Replies (1)
Taxation is not related to the registration status of the individual. You have to pay the taxes, even if you are unregistered. Hence compute the tax liability and then declare the same to the Department and if more amount has been deducted, your client can always claim the refund. Please also verify whether your client is eligible to claim input tax rebate as your client is an unregistered dealer.
Recent Topics :
- Practical queries on buy back of shares
- Any faculty recommendations for latest batch recor
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
Related Topics :
CAclubindia
