Officer
129 Points
Joined November 2009
LAW (LEGISLATIVE DRAFTING) DEPARTMENT
Dear Abhijeet,
Following are the provisions relating to WCT in MVAT:-
1 Intimation to Dept. regarding works contract:- No Specific Provision
2 Liability to deduct the TDS:- If the contract value exceeds Rs. 5 Lacs.
3 Rate of WCT TDS:- Registerd Dealer : 2%; Un Registered Dealer: 4%
4 To be deposited within :- Return cum Challan in Form 405, within 21 days
5 TDS Certificate (Form):- Form 402
6 Certificate to be issued in days:- To be issued immediately, no period specified.
7 Statement of TDS deposited:- Annual return in Form 405 to be submitted within 3 months from end of the year.
Jitendra Jhanwar